# @benzinga on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/CkMBttVjZuC
- **Gondola URL:** https://gondola.cc/posts/21840973-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/31806be993.jpg
- **Posted:** 2022-10-26T19:02:06.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

Twitter Inc shares jumped nearly 1% on Wednesday closer to the $54.20 buyout level as investors discovered that Tesla Inc CEO Elon Musk may soon be the CEO of Twitter.

The billionaire changed his Twitter bio to something indicative of a chief executive.

What Happened: Musk changed his bio on Twitter to read “Chief Twit” on Wednesday, ahead of the acquisition of the social platform, which Musk pledged to close by Friday.

After the $44-billion transaction is completed, Musk is expected to appoint himself as interim CEO, according to a May report from CNBC.

Friday is the deadline Delaware Court of Chancery Judge Kathaleen McCormick gave Musk and Twitter to close the buyout deal after issuing a stay in the social media platform's lawsuit against the Tesla CEO.

Why It Matters: The Twitter takeover deal previously stalled after Musk claimed the number of bots or spam accounts on Twitter was much higher than the company stated. A the beginning of the month, Musk made a proposal to buy Twitter at the original offer price of $54.20 per share.

It appears Musk is close to completing the acquisition. Follow @benzinga 
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## Stats

- **Views:** 15,579
- **Likes:** 712
- **Shares:** 0
- **Comments:** 12

## Tags

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