Elon Musk revealed his visit to Twitter’s headquarters in San Francisco by posting a video of himself entering the office carrying a kitchen sink and changing his public profile caption to “Chief Twit.”
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
He is scheduled to address employees on Friday, the day the closing date for his planned $44 billion deal to take Twitter private expires.
The social media platform is expected to come under Musk’s ownership by 5:00 p.m. New York time on October 28 as lawyers and bankers on both sides are trying to finalize the paperwork.
Leslie Berland, Twitter’s chief marketing officer, sent a memo to employees on Wednesday saying Musk would visit the company’s headquarters this week. This is what the people who received this memo say.
“Elon is in the SF office this week meeting with folks, walking the halls, and continuing to dive in on the important work you all do,” Berland wrote in the memo. “For everyone else, this is just the beginning of many meetings and conversations with Elon, and you’ll all hear directly from him on Friday.”
Twitter shares rose on these latest signs that billionaire Musk plans to honor his deal and pay $54.20 for each share of the company.
Recently Bloomberg reported that Musk told bankers he expects the deal to close by the deadline. Banks were expecting an announcement from Musk on borrowing $13 billion in debt financing, with the funds expected to be transferred on Thursday. The company’s shares rose 1.1% to $53.35 at the close on Wednesday in New York.
Wall Street lenders, led by Morgan Stanley, have already been preparing for debt financing in recent weeks. But with the changeable Elon Musk, who only a few weeks ago tried to exit the deal, nothing was ever certain. Recent developments indicate that he is in the final stage of closing the deal.
Many Twitter employees dread the prospect of Elon Musk owning the company. Potential investors were informed that he plans to cut 75% of the workforce, which currently has about 7,500 employees, and that he expects to double revenue within three years.
Musk will also allow former US President Donald Trump and others who have been kicked off the platform to return to the social network because Twitter will loosen its content moderation standards, according to one of the people.
It was also reported that Elon Musk wants to transform Twitter to the super application.