‘It’s possible Twitter could be worse’: Bill Gates says the social media platform could suffer under Elon Musk leadership

Gates’ ambivalence about a Musk-led Twitter comes a week after Tesla CEO’s struck a deal to takeover the company. CNBC reported Thursday that Musk is expected to serve as temporary Twitter CEO once his $44 billion takeover of the social media platform is complete.

After some resistance to Musk’s takeover, Twitter and Musk reached a deal for the billionaire to buy the platform in late April. On Thursday, Musk said he secured about $7.14 billion in equity commitments for the takeover from 19 co-investors, according to the Wall Street Journal. With the new funding, Musk reduced the $12.5 billion loan he had originally taken out to finance the deal to $6.25 billion, the Journal reports.

Musk’s hostile takeover of Twitter started in early April when he bought a 9.2% stake in the company and was quickly offered a seat on Twitter’s board of directors. Accepting the board seat would have prevented Musk from owning more than 14.9% of the company while on the board. After rejecting the board seat, Musk mounted a bid to buy all Twitter shares at $54.20 a share and take the company private. On Tuesday, the Wall Street Journal reported that Musk said he plans to take the company public again after a few years.

Source: https://fortune.com/2022/05/05/bill-gates-elon-musk-takeover-twitter-could-be-worse/