Elon Musk makes a splash carrying a sink at Twitter Headquarters

4 mins read


On Wednesday, the techo billionaire tweeted a video of himself carrying a sink in the lobby of the company’s headquarters in San Francisco, California. He captioned the post: “Entering Twitter HQ – let that sink in!”

Mr Musk also changed his location on Twitter to the headquarters and has changed his bio to read “Chief Twit.”

This Friday, the billionaire faces a court-mandated deadline to complete the $44billion (£38billion) purchase of the social media platform.

It was reported by Reuters that Mr Musk notified investors that he plans to finalise the buyout before the deadline, and Bloomberg has reported that banks involved in the takeover have put together their final credit agreement.

A group of banks, including the Bank of America and Morgan Stanley, signed a loan deal earlier this year to give Mr Musk $12.5billion to support the buyout.

The billionaire announced on October 4 he would proceed with the deal to buy Twitter, after he said the buyout was “temporarily on hold”.

Earlier this year he attempted to terminate the takeover over the number of “spam and fake accounts”, and Twitter then proceeded to sue Mr Musk for cancelling the deal.

The trial was set for October 17, but Mr Musk then proposed that the deal should go ahead and a judge rescheduled the trial date to October 28.

The tech CEO has until that date to proceed with buying Twitter or go to trial.

In a recent Telsa earnings call, Mr Musk said: “I’m excited about the Twitter situation.”

He added: “I think it’s an asset that has just sort of languished for a long time but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now.”

READ MORE: Prince Harry’s memoir release date laid bare by industry expert

Mr Musk has previously said he plans to cut around 75 percent of Twitter employees if he buys the company.

A new report by Greg Larkin and Elizabeth Gafford for the business membership network Punks and Pinstripes has suggested that around 530 Twitter employees have left the company in recent months.

The number leaving is a 60 percent increase in the number of employees that left in the last quarter.

Mr Larkin said in an interview with Business Insider: “The bottom line here is that the uncertainty being generated by the fight between Elon Musk and Twitter is driving a lot of their top talent to other social media platforms.”

He added: “These people have options as to where they can go and they’re going.”



Leave a Reply

Your email address will not be published.

Latest from Blog