Tesla CEO and SpaceX founder Elon Musk has said he will see a significant increase in work ethics standards at Twitter once it officially acquires the social media platform.
“Expectations for work ethic will be extreme, but I myself fall short of what I’m demanding,” Musk said on Twitter on Friday.
He added that the company will be “super focused on hardcore software engineering, design, information security and server hardware.”
Musk previously said he wants to revolutionize Twitter’s role in public debate because “free speech is the cornerstone of a functioning democracy, and Twitter is the digital town square where matters important to the future of humanity are debated.”
a first report good It noted that Musk is expected to become the temporary CEO of Twitter after closing the $44 billion (about Rs 3,40,400 crore) acquisition of the social media firm, a person familiar with the matter said on Thursday, Because for the deal inches closer to securing billionaire wealth.
Musk, the world’s richest man, is also the CEO here. Tesla and heads two other ventures, The Boring Company and SpaceX, Tesla shares fell more than 8 percent on Thursday, as investors said Musk’s involvement with Twitter could distract him from running the world’s most valuable electric-car maker.
Twitter shares, on the other hand, extended gains and were up nearly 4 per cent at $50.89 (approximately Rs 3,900), close to a deal price of $54.20 (approximately Rs 4,200), with investors betting that the new funding made the deal more likely. Parag AgarwalMusk, who was named Twitter CEO in November, is expected to remain in his role until the completion of the sale of the company. CNBC first reported on Thursday that Musk plans to become CEO of Twitter on an interim basis.
Earlier on Thursday, Musk listed a group of high-profile investors who are set to commit $7.14 billion (about Rs 54,485 crore) in funding for his Twitter bid, which includes. of oracle Co-founders Larry Ellison and Sequoia Capital. Musk increased the financing commitment to $27.25 billion (about Rs 2,08,981 crore), including commitments from 19 investors, while the margin loan from Morgan Stanley was reduced to $6.25 billion (about Rs 47,931 crore). It has already secured a debt commitment of $13 billion (about Rs 99,697 crore).