June 25, 2022
Elon Musk wants to pay more money out of his own pocket in Twitter acquisition deal
Techs & Telecoms

Elon Musk wants to pay more money out of his own pocket in Twitter acquisition deal

Elon Musk wants to pay more money

Elon Musk wants to pay more money out of his own pocket – Billionaire Elon Musk plans to take a larger share of twitter’s acquisition price for his own account. He now wants to pay 33.5 billion dollars out of his own pocket, according to documents filed with the American stock exchange regulator SEC.

The Tesla boss previously reached an agreement with Twitter to take over the company for 44 billion dollars (more than 41 billion euros). Initially, he would pay 27.25 billion out of his own pocket.

The documents now show that Musk has dropped plans to partially finance his purchase with a loan linked to his stake in Tesla. As a result, he will have to arrange 6.25 billion dollars in extra financing himself, so a total of 33.5 billion dollars.

To finance the acquisition, Musk is also seeking help from others. For example, he is in talks with Twitter founder and former CEO Jack Dorsey and other shareholders to help finance the acquisition.

The deal between Musk and Twitter has recently been put on hold. He did so because he wants more clarity about the share of fake accounts on the social medium.

Elon Musk wants to pay more money out of his own pocket in Twitter acquisition deal

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