Elon Musk raises another 1 billion to buy Twitter
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Elon Musk raises another $1 billion to buy Twitter

While some sources believe Elon Musk won’t need the full amount of funds raised to buy Twitter assets, the American billionaire continues to find partners for the deal. The latter are willing to invest more than $1 billion of their own funds, provided some of that can be converted into Twitter shares in the future.

    Image source: Reuters, Patrick Pleul

Image source: Reuters, Patrick Pleul

The agency announced a new source of funding for the deal Bloomberg with reference to their own data. According to available information, Morgan Stanley has raised more than $1 billion in funding from a group of institutional investors who expect to receive Twitter shares at a bargain price after the deal. Participants in this funding round include Apollo Global Management and Sixth Street Partners.

Keep in mind that out of a total of more than $44 billion, a smaller portion of Tesla stock and guarantees is provided by Twitter itself, about $27.25 billion that Musk and his partners have to pay out of pocket . The Tesla boss sold shares in the company for $8.5 billion and also found partners willing to give him a total of $7.1 billion. Musk also has supporters among private investors – Saudi Prince Al-Waleed bin Talal is willing to participate in trading its Twitter shares for $1.9 billion. The social network’s co-founder, Jack Dorsey, may have a similar stake in the deal, although his stake in the company isn’t that large.

It appears Musk isn’t ruling out options when looking for funding sources. A number of investors may be exploring the possibility of converting Twitter’s debt into stock at a better price than buying it on the open market. The company’s stock price is currently down to $47.26, well below Musk’s proposed $54.2 per share. Investors were also puzzled by the fact that, while discussing the possibility of removing the ban from Donald Trump’s (Donald Trump) account, the billionaire admitted to the thought of his failure in an attempt to buy Twitter.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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