Elon Musk's Buyout Plan For Twitter Included Large Cost Cutting Measures

Tesla CEO Elon Musk is reportedly looking to implement a number of key changes on Twitter once his acquisition of the social media company is complete. These include cost-saving measures, as well as the appointment of a new chief executive. 

Musk reportedly pitched his ideas to banks that agreed to help him in his efforts to acquire Twitter for $44 billion. Musk reportedly shared his plans to the financial firms just days after posting his offer to buy Twitter on April 14. The commitments from the banks that Musk secured played a notable role in pushing Twitter’s Board of Directors to accept the Tesla CEO’s offer to purchase the social media company at $54.20 per share.