Elon Musk to become Twitter CEO while mega £35billion takeover deal is finalised

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The Tesla owner will hold the leadership role for a few months following the buyout, according to CNBC. Twitter CEO Parag Agrawal has only been in charge of the company for a few months after taking over leadership from co-founder Jack Dorsey in November.

The huge development over Mr Musk’s new leadership role comes after it was revealed the world’s richest man has 18 investors committed to collectively invest more $7billion (£5.66billion) worth of equity to help fund his takeover of Twitter.

He said in a new filing that Oracle Corp co-founder Larry Ellison’s trust will stump up $1billion towards the total purchase price of the social media platform.

The billionaire announced he had also received equity commitment letters from investors such as Sequoia Capital ($800m) and Brookfield ($250m).

Qatari Holding ($375m) and NYC real estate investor Steve Witkoff ($100m) are just some of the other investors listed.

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