Elon Musk Changes Twitter Bio to 'Chief Twit,' Visits Social Media's Headquarters

By Mary Webber First Posted: Oct 26, 2022 10:43 PM EDT

Elon Musk has changed his Twitter bio to "Chief Twit" and attended meetings with executives of the social media platform at Twitter's San Francisco headquarters on Wednesday.

The Washington Post reported that the new developments show that the $44 billion deal in acquiring Twitter is on track to close this week.

People close to Musk who spoke on condition of anonymity also confirmed that the officials and the Tesla CEO are finalizing the Twitter deal.

Musk praised Twitter's capacity for encouraging "citizen journalism" on Twitter. He added that local news organizations "should get way more prominence" on the social media platform.

A copy viewed by the media outlet showed that Twitter's chief marketing officer, Leslie Berland, sent an email to staff saying Musk would be in their San Francisco headquarters, encouraging employees to "say hi."

Musk also tweeted a video of him walking into the company's reception area carrying a sink.

Twitter employees have also posted videos of the Tesla CEO making his rounds in the office and greeting workers.

In one clip, Musk said that "this is a sweet office."

Meanwhile, Twitter spokeswoman Rebecca Hahn confirmed that Musk would address the company on Friday.

Elon Musk 'Finalizing' Twitter Deal

Bloomberg earlier noted that Musk has told bankers he expected the deal to close by the deadline, which is on Friday.

Banks were expecting a borrowing notice from Musk for $13 billion in debt financing, intending for the funds to go into escrow.

Wall Street lenders had already been gearing up in recent weeks to fund the debt. The group of lenders is led by Morgan Stanley.

Musk's lawyers have written to investors backing into the equity portion of the deal to confirm it is on track to close by the deadline, according to people familiar with the matter.

Potential investors were told that Musk intends to cut 75% of the workforce, which is now about 7,500.

A person with knowledge of the matter noted that Musk wants to double revenue within three years.

Twitter Lawsuit

In August, the social media company filed a lawsuit against Musk over his abandonment of the deal.

Musk filed a countersuit noting that Twitter misled investors and it breached the agreement by failing to provide enough information regarding spam accounts.

The Tesla CEO added that another breach happened when Twitter failed to consult with him on business moves such as firing senior employees, as reported by The Guardian.

Musk was also "astonished" to learn about how meager Twitter's process is for identifying spam accounts.

Musk's lawsuit said that 100 accounts a day were sampled by human reviewers to come up with less than -5% figure.

Twitter argued that the company imposes a much more "layered process" for taking out spam accounts, including using automated systems.

Musk also claimed that Twitter failed to provide him all the data and information that he asked for in regards to "any reasonable business purpose related to the consummation of the transaction."

This article is owned by Latin Post.

Written by: Mary Webber

WATCH: Elon Musk Enters Twitter HQs, Said to Address Staff on Friday - from Bloomberg Markets and Finance