Elon Musk's Twitter roadmap has the support from Qatar Investment Authority (QIA). The fund said it trusts the new owner's leadership in implementing the changes the company needs.
The chief executive of the Qatar Investment Authority said the sovereign wealth fund supports Elon Musk's vision for Twitter, despite the unrest that has been around the platform since the completion of the acquisition. The fund engages with the new owner and trusts his leadership in initiatives to change the platform.
“We engage with the management, with Elon in terms of the plan that he has for the company, and we believe in this, and we trust his leadership in terms of turning around the company,” CEO Mansoor Al Mahmoud said in a Bloomberg Television interview at Davos on Monday.
He said the QIA does not influence Musk's Twitter activity by asking for a reduction in the number of tweets he posts, stating that the fund is not involved “to that extent.” QIA provided some of the funding for the Twitter acquisition, investing $375 million in the deal.
Musk remains CEO of Twitter and is trying to transform the platform to improve user satisfaction. In parallel with this, he takes care of the financial position of the platform, removing it from the path to rapid bankruptcy. However, as soon as a worthy candidate is found who can handle the management of the company in its hard situation, the role of CEO will be given to them.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.