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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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27-01-2023 15:49:25 (UTC+7)

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    EUR/USD 1.0889 ↑ Buy  
    GBP/USD 1.2377 ↑ Buy  
    USD/JPY 129.90 ↑ Sell  
    AUD/USD 0.7107 ↑ Buy  
    USD/CAD 1.3332 ↑ Sell  
    EUR/JPY 141.42 Buy  
    EUR/CHF 1.0026 ↑ Sell  
    Gold 1,925.45 ↑ Buy  
    Silver 23.760 Neutral  
    Copper 4.2735 ↑ Buy  
    Crude Oil WTI 81.58 Neutral  
    Brent Oil 88.11 Neutral  
    Natural Gas 2.801 Neutral  
    US Coffee C 167.20 Neutral  
    Euro Stoxx 50 4,173.35 Neutral  
    S&P 500 4,060.43 ↑ Buy  
    DAX 15,141.85 Sell  
    FTSE 100 7,766.98 Neutral  
    Hang Seng 22,642.50 ↑ Sell  
    Small Cap 2000 1,903.06 ↑ Buy  
    IBEX 35 9,022.54 ↑ Sell  
    BASF 52.605 ↑ Sell  
    Bayer 56.28 Buy  
    Allianz 221.20 ↑ Sell  
    Adidas 148.13 Neutral  
    Lufthansa 9.737 ↑ Buy  
    Siemens AG 144.63 ↑ Buy  
    Deutsche Bank AG 12.210 ↑ Buy  
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$1,925.45 -5.12 -0.27%
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Sản phẩm Vùng 1 Vùng 2
RON 95-V23.01023.470
RON 95-III22.15022.590
E5 RON 92-II21.35021.770
DO 0.05S21.63022.060
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Dầu hỏa 2-K21.80022.230
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.260,0023.630,00
EUR24.857,5526.249,47
GBP28.270,1829.475,66
JPY175,71186,02
KRW16,4320,02
Cập nhật lúc 15:39:24 27/01/2023
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