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Elon Musk expected to serve as temporary Twitter CEO after deal closes

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TWTR

Elon Musk talks at the Automotive World News Congress at the Renaissance Center in Detroit, Michigan.
Rebecca Cook | Reuters

Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, sources told CNBC’s David Faber.

An SEC filing on Thursday revealed Musk secured approximately $7.14 billion in equity commitments from friends and other investors to buy Twitter. Faber said Musk handpicked the investors, ranging from $1 billion from Larry Ellison to $5 million from Honeycomb Asset Management, which invested in SpaceX. Faber added that Twitter co-founder Jack Dorsey may back it, and Musk is talking to him about the possibility of contributing shares immediately or prior to closing of the merger.

This story is developing. Check back for updates.

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