Tesla shares have fallen more than 8 percent in the past day, as investors think Musk’s association with Twitter could derail him from becoming the world’s largest electric car maker. On the other hand, Twitter’s shares have made gains, up nearly 4% from $50.89 to $54.20, as investors pegged growth on the higher likelihood of the new funding deal being completed.
Twitter’s current CEO Parag Agrawal took over as CEO in November. Twitter’s CEO can remain until this deal is completed. CNBC reports revealed that Elon Musk could be the new interim CEO of Twitter.
Elon Musk is the richest person in the world, as well as the CEO of Tesla Inc., and the head of two other companies, The Boring Company and SpaceX. Elon Musk has often been critical of Twitter, so there is a possibility that he himself will make changes on a special level while taking command of it. Musk has been suggesting changes to Twitter since last month. Before signing the deal with Twitter last month, Musk suggested changes to the Twitter Blue premium membership service, including a price cut.
Twitter usage may be charged
A few days ago, Elon Musk tweeted that Twitter will always be free for normal users, but a small charge may be charged for commercial and government users. Musk said in the tweet that ‘Twitter will always be free for casual users, but there may be a small fee for commercial/government users.’ Now not much is known about when this fee will be imposed.