Musk did not respond to a request for comment. The investors he has attracted would contribute to the equity batch, lowering his debt burden. He has committed more than $33 billion of his money to buy Twitter, significantly more than his initial $21 billion equity commitment - lowering the amount of debt he would have to pull from banks to reach the agreed-upon price. Musk is personally vetting and approving each investor, according to one of the people.Īfter initially offering to acquire Twitter, Musk has seen his wealth take a hit with the drop in the stock market. The investors signing up are confident the deal will proceed, according to the people, despite Musk recently telling his more than 90 million followers on Twitter the deal is on hold because of the site's tally of fake accounts. "What people miss is that there's a very solid case for Twitter to go private that has nothing to do with Elon." "There's a group of investors that will support Elon in anything he wants to do," said Adam Hardej, director of private markets at start-up crowdfunding company Stonks, which garnered $20 million worth of investor interest in the deal in May - though the funding has not been committed.
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