Tesla CEO and Dogecoin enthusiast Elon Musk broke the internet with his Twitter takeover. From starting as the largest shareholder to emerging as the new owner of the social media platform, Musk managed to garner the attention of the entire globe. Taking on more responsibilities Musk will reportedly serve as the temporary CEO of Twitter.
CNBC reported that a source affirmed Elon Musk’s likelihood of acting as the interim CEO of Twitter. Furthermore, this would last for a few months following his $44 billion acquisition of the platform.
Rumors about Musk switching up the management of Twitter started surfacing right after his acquisition announcement. While some speculated that it would be someone from the crypto-verse, a few others were eagerly awaiting Musk’s next move. The prominent crypto project, Aave’s founder Stani Kulechov even joked about him being appointed as the interim CEO. However, that did not go as planned as he was kicked out of Twitter right after his prank.
Meanwhile, Parag Agrawal the current CEO of Twitter who was appointed only a couple of months ago was speculated to be relieved of his role. Right after Jack Dorsey decided to give up his role, Agrawal entered the scene. Several extended support and further expressed sympathy towards him. Agrawal, however, urged the community to focus on the service that they provide instead.
In addition to this, reports suggested that Musk would be making job cuts and introducing a new model that would aid in monetizing the platform. However, he made it clear that only governments and mainstream organizations would have to pay up while casual users would be able to avail the free service.
Elon Musk’s Twitter falls under FTC’s purview
Just as Musk amassed the support of an array of investors for his Twitter bid, the U.S. Federal Trade Commission [FTC] wanted to snoop into this. The FTC is reportedly reviewing Musk’s Twitter takeover. Reports further reveal that the FTC would most likely carry out a meticulous review of the $44 billion acquisition.