Elon Musk aggressively borrowed money to buy Twitter 2
The New York Times quoted a close source as saying that Morgan Stanley – the bank advising Elon Musk in the purchase of Twitter – has called banks and potential investors to raise capital.
Elon Musk is currently focusing on debt financing.
Tesla CEO Elon Musk.
Musk said he wants to buy Twitter and make changes so the platform becomes a place where people can speak freely.
Twitter’s Board of Directors did not object to Musk’s acquisition proposal.
Twitter is expected to reveal more information about this deal when it releases its quarterly financial reports at the end of the month.
In 2018, Musk announced he would privatize Tesla and posted on Twitter that he `had enough money`.
This time, some investors are hesitant to participate in Musk’s loan, fearing the risks of working with a notoriously volatile billionaire and a company often embroiled in political controversy like Twitter.
Musk offered to buy Twitter for $54.20 per share.
This month, Musk was invited to Twitter’s Board of Directors.
