A source familiar with the matter told Reuters today, Thursday, that Elon Musk is expected to become the interim CEO of Twitter after completing the $44 billion acquisition of the social media company, as the billionaire nears securing the necessary financing for the deal.

Musk, the richest man in the world, is also the CEO of Tesla, and heads two other companies, The Boring Company and SpaceX.

Tesla shares dropped 8% in Thursday trading, as investors worried that Musk’s involvement in managing Twitter could distract him from running the world’s most valuable electric car maker.

On the other hand, Twitter shares extended their gains and rose about 4% to $50.89, closer to the deal price of $54.20, as investors bet that the new financing made completing the deal more likely.

Parag Agrawal, who was appointed CEO of Twitter in November, is expected to remain in his position until the sale of the company to Musk is completed.

US channel CNBC first reported on Thursday that Musk plans to become the interim CEO of Twitter.

Earlier today, Musk listed a group of prominent investors ready to provide $7.14 billion in funding for the Twitter deal, including Oracle co-founder Larry Ellison and Sequoia Capital.

Saudi investor Prince Alwaleed bin Talal, who said last month that the deal price was not sufficient for him to sell his shares, instead agreed to convert his $1.89 billion stake in the deal.

Musk increased his financial commitment to $27.25 billion, while reducing the margin loan from Morgan Stanley to $6.25 billion. He has already secured commitments worth $13 billion in loans from banks.

Other investors include crypto company Binance, New York real estate mogul Steven Witkoff, and DFJ Growth IV Partners, which has investments in Boring Company, SpaceX, SolarCity, and Tesla.

Musk will continue talks with current Twitter shareholders, including former company head Jack Dorsey, to contribute to the proposed acquisition, according to the filing.

Larry Ellison, Tesla board member and Musk’s close friend, allocated $1 billion for financing.

Musk will have to pay a $1 billion termination fee to Twitter if he withdraws, and the social media company can also sue him to complete the deal.