Elon Musk dubs himself ‘Chief Twit,’ visits Twitter HQ with deal set to close



SAN FRANCISCO — Elon Musk is on track to buy Twitter. For real this time.

The world’s richest person showed up at Twitter’s San Francisco headquarters Wednesday for meetings with executives and modified his bio on Twitter to “Chief Twit.”

The moves sign the $44 billion deal is on track to shut this 7 days, anything echoed by individuals near with Musk who spoke on the situation of anonymity to discuss sensitive issues. Funding is lining up to finalize the deal.

Twitter’s inventory shut at $53.35 — just beneath Musk’s present of $54.20, signaling the market believes it will go via, too.

It’s a much cry from just a couple weeks ago, when Twitter and Musk have been locked in litigation following the Tesla chief executive attempted to back again out of his offer to receive the social media organization, citing complications with spam and bots.

Elon Musk presents to acquire Twitter for primary price tag, weeks just before demo

On his Twitter account Wednesday, Musk praised the company’s capacity for enabling “citizen journalism,” and explained entities this sort of as community information organizations “should get way a lot more prominence” on the web page.

Twitter’s chief marketing officer, Leslie Berland, despatched an e-mail to team Wednesday early morning indicating Musk would be in the San Francisco offices and inspired workers to “say hello,” in accordance to a copy viewed by The Washington Put up.

Musk afterwards tweeted a video clip of him walking into the company’s reception area, carrying a sink to suggest that the actuality of his ownership should “sink in.”

Twitter spokeswoman Rebecca Hahn verified a companywide communication that claimed Musk would tackle the corporation on Friday.

On internal Slack channels, Twitter staff posted videos as Musk built his rounds in the business office, greeting personnel and asking them what they imagined of distinctive Twitter merchandise, such as the subscription support Twitter Blue that the enterprise is now beta-testing.

“This is a sweet office environment,” he explained in one particular clip explained to The Post. In a different, about 25 individuals collected around him and questioned thoughts, including irrespective of whether he seriously planned to fire 75 percent of the staff members.

The Post described past 7 days that Musk laid out designs to lay off virtually three-fourths of Twitter’s staff members as he seeks to carry out aggressive price-cutting and loosen the site’s information moderation expectations. Musk said he didn’t prepare to do so.

Musk is funding a significant part of the offer through credit card debt from a team of 7 main banks. Spokespeople for BNP Paribas and Societe Generale did not answer to a request for remark. Spokespeople for Bank of The united states, Barclays, Morgan Stanley, Mizuho and MUFG declined to remark.

Musk’s team was pitching traders during the weekend, the individuals mentioned, as they appeared to lessen his fiscal stress in the deal.

Musk shifted his view on irrespective of whether to buy the business after a series of losses in Delaware Chancery Court in issues associated to scheduling and discovery, according to the people shut to Musk and his team. A loss became a severe probability if the make any difference went to trial, risking penalties past simply the acquiring cost. And the blows to Tesla’s stock and Musk’s internet well worth became a lingering concern.

Musk acknowledged to overpaying for the site throughout Tesla’s earnings get in touch with final week.

Elon Musk reversed class and produced a proposal to purchase Twitter at $54.20 a share, according to a lawful submitting on Oct. 4. (Video clip: Reuters)

Documents detail programs to intestine Twitter’s workforce

Musk also took solace in his credit card debt and fairness commitments, which locked him into the offer on favorable conditions that might not be otherwise obtainable, the individuals reported. And he turned fired up by his options for the web page.

As Elon Musk expands his reach, Washington worries

The first period of his possession will focus on talent — and Musk is anticipated to glance to his other corporations, Tesla and SpaceX, to request out specialists who could enable Twitter reverse its fortunes, the people today said.

Gerrit De Vynck and Elizabeth Dwoskin contributed to this report.

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