Musk visits Twitter HQ ahead of deal closure - Mobile World Live

Musk visits Twitter HQ ahead of deal closure

27 OCT 2022

Elon Musk dropped by Twitter’s San Francisco headquarters and tweeted a video of himself carrying a kitchen sink into the offices after he changed his public profile title to “Chief Twit”.

Bloomberg reported Musk is slated to take over the social media company by 5 p.m. East Coast time on 28 October after months of attempting to back out of the $44 billion deal he first struck in April.

The news site stated Leslie Berland, chief marketing officer for Twitter, sent a memo to employees on 26 October that Musk would stop by the company’s headquarters this week.

The memo also noted he planned to speak directly to the San Francisco-based employees on the day of the closing.

The Tesla CEO claimed Twitter had under-reported the number of bots and spam accounts as the primary reason for attempting to walk away, but there’s been speculation that he might have overpaid after the company’s stock dropped after the deal was struck.

Bloomberg previously reported he planned to cut 75 per cent of the workforce, which is about 7,500 employees, and that he expects to double revenue within three years, citing an unnamed source.

A trial was scheduled to start 17 October to decide if Musk must honour the original takeover deal, but it was cancelled after he agreed to buy the company under the original terms.



Mike Robuck

Mike Robuck is the U.S. Editor at Mobile World Live. He joined the Mobile World Live staff in February of 2022. Prior to joining GSMA, he was editor of FierceTelecom and of Light Reading’s Telco Transformation microsite. He has a...

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