On May 5, SEC-Registered Investment Adviser Gary Black tweeted his disapproval of Elon Musk being Twitter’s CEO. In detail, he cites his reasons being that Musk already has his hands full running Tesla and SpaceX. As a result, Musk won’t be able to give appropriate attention to running Twitter.
I’ll say it: I don’t like @elonmusk running $TWTR temporarily when the deal closes. Running $TSLA +SpaceX is already a full time job, even for a workaholic like Elon. Finding a talented driven CEO of $TWTR in SV has to be easier than monetizing TWTR and fixing its broken culture.— Gary Black (@garyblack00) May 5, 2022
In a follow-up tweet, Black suggests that Musk should instead look for a CEO who shares his vision about Twitter. Somebody willing to work, knows the business, and can fix Twitter’s culture. Otherwise, Black comments that Musk being CEO would just be like the second iteration of Jack Dorsey.
While Elon could certainly do it, he’s already got a 24/7 job. It would be like [Jack Dorsey] Act II.
In response to the tweet, the crypto community mostly disagreed with Black’s sentiments. Users lifted Musk up and praised his skillset and vision – claiming that he was the man for the job. The Twitter community showed solidarity with Musk and placed their trust in him.
Gary Black’s tweet is in response to rumors that Elon Musk is to be Twitter’s temporary CEO after his takeover. This news came after Musk’s SEC filing that revealed he had secured $7.14 billion from equity commitments. Musk requires $21 billion in financing commitments to fund the purchase.
According to the SEC filing, there were 18 companies helping fund Elon’s takeover. Among these companies are Binance, VyCapital, Sequoia Capital Fund, and Lawrence J. Ellison Revocable Trust. These companies have provided the top contributions for the current $7.14 billion collected for Musk’s offer.