Elon Musk is funded more than 7 billion USD to buy Twitter

Billionaire Elon Musk’s name has returned to the media since he announced the purchase of Twitter – Photo: REUTERS

According to Reuters news agency, on May 5, Elon Musk said he had received letters of commitment to shares from investors including Sequoia Capital, Brookfield, Qatar Holding and others.

The move came as billionaire Musk’s margin loan fell from $12.5 billion to $6.25 billion. Billionaire Musk will continue to negotiate with current Twitter shareholders, including former CEO Jack Dorsey, to buy shares.

On April 25, Tesla CEO Elon Musk announced a deal to “acquire” Twitter for $44 billion. Initially, this technology company rejected Mr. Musk’s intention to buy, but suddenly changed his mind after shareholders approved Mr. Musk’s offer to buy.

Analysts and investors say Musk may need to sell some of his shares to pay for Twitter. Tesla CEO himself also said he would mortgage Tesla shares to borrow $ 12.5 billion.

Billionaire Elon Musk wants Twitter to charge some users

TTO – Billionaire Elon Musk said Twitter could charge “light” fees for users who are companies and government organizations, while ordinary users will still be able to use it for free. This social network previously announced to sell to Mr. Musk.