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QIA CEO Affirms Trust in Elon Musk’s Leadership of Twitter

QIA CEO Mansoor Al-Mahmoud says his company trusts Elon Musk to turn Twitter around.Twitter has faced several challenges since Elon Musk’s takeover with several staff...
QIA CEO Affirms Trust in Elon Musk’s Leadership of Twitter © Reuters. QIA CEO Affirms Trust in Elon Musk’s Leadership of Twitter
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  • QIA CEO Mansoor Al-Mahmoud says his company trusts Elon Musk to turn Twitter around.
  • Twitter has faced several challenges since Elon Musk’s takeover with several staff leaving the company.
  • QIA contributed $375 million towards the acquisition of Twitter.

Qatar Investment Authority (QIA) CEO, Mansoor Al-Mahmoud affirmed the trust of his company in Elon Musk’s leadership of Twitter. During a press interview in Davos, Al-Mahmoud reiterated his company’s commitment to the original plans and promise to Twitter. According to him, they have engaged with the company and with Musk, believing and trusting his leadership in terms of turning Twitter around.

QIA contributed $375 million to finance the Twitter acquisition deal. It was one of the sovereign wealth funds that invested in the $44 billion purchase of the social network. All the state-owned investors’ stakes that supported the purchase totaled around $1 billion. That is a relatively small percentage of the total worth of the company.

Shortly after the Twitter takeover by Musk, several members of staff were made to leave the company. Musk worked towards cutting costs, at the same time imposing his style of leadership. That rattled the platform and its users, raising questions over the perceived radicality in his previous engagements that will hurt the company.

Musk has already laid off another set of workers in 2023. The latest cut affected the team behind global content moderation. Those who handle matters related to hate speech and harassment were also affected. At least a dozen workers among them were laid off.

Developments like this are perceived to be eating into the trust level of Musk’s Twitter. His ability to effectively manage the platform has come under scrutiny. Meanwhile, several Tesla (NASDAQ:TSLA) investors, the electric car manufacturing company owned by Musk, think that his focus on Twitter is a distraction that has caused Tesla’s stock to dump in the past months.

Mansoor’s affirmation is a vote of confidence from his company. His comments imply that Twitter in its current state needs to be reformed. He did not question Musk’s ability to manage the situation. On the contrary, he said that QIA trusts Musk’s leadership in terms of turning around the company.

The post QIA CEO Affirms Trust in Elon Musk’s Leadership of Twitter appeared first on Coin Edition.

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31-03-2023 10:41:31 (UTC+7)

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    EUR/USD 1.0901 ↑ Sell  
    GBP/USD 1.2391 ↑ Sell  
    USD/JPY 132.91 Neutral  
    AUD/USD 0.6716 Neutral  
    USD/CAD 1.3526 ↑ Buy  
    EUR/JPY 144.90 ↑ Sell  
    EUR/CHF 0.9963 ↑ Sell  
    Gold 1,998.55 ↑ Sell  
    Silver 24.043 ↑ Sell  
    Copper 4.0880 ↑ Sell  
    Crude Oil WTI 74.34 ↑ Buy  
    Brent Oil 78.45 Neutral  
    Natural Gas 2.100 ↑ Buy  
    US Coffee C 170.15 Sell  
    Euro Stoxx 50 4,285.42 ↑ Sell  
    S&P 500 4,050.83 ↑ Buy  
    DAX 15,522.40 ↑ Sell  
    FTSE 100 7,620.43 ↑ Sell  
    Hang Seng 20,507.00 ↑ Sell  
    Small Cap 2000 1,768.38 ↑ Sell  
    IBEX 35 9,207.10 ↑ Sell  
    BASF 47.900 ↑ Buy  
    Bayer 57.78 ↑ Buy  
    Allianz 211.80 ↑ Buy  
    Adidas 155.00 Sell  
    Lufthansa 9.950 Neutral  
    Siemens AG 148.52 ↑ Buy  
    Deutsche Bank AG 9.289 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,645/ 6,685
(5/ 5) # 1,043
SJC HCM6,645/ 6,705
(15/ 15) # 1,063
SJC Hanoi6,645/ 6,707
(15/ 15) # 1,065
SJC Danang6,645/ 6,707
(15/ 15) # 1,065
SJC Nhatrang6,645/ 6,707
(15/ 15) # 1,065
SJC Cantho6,645/ 6,707
(15/ 15) # 1,065
Cập nhật 31-03-2023 10:41:34
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KRW15,6519,06
Cập nhật lúc 10:35:49 31/03/2023
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