The $21 billion equity commitment Musk made to Twitter’s board is looking more achievable, as he’s reportedly lined up $10 billion from other investors, after selling more than $8 billion of Tesla shares last week.
The $21 billion equity commitment Musk made to Twitter’s board is looking more achievable, as he’s reportedly lined up $10 billion from other investors, after selling more than $8 billion of Tesla shares last week. When Elon Musk revealed that the financing package for his $44 billion Twitter buyout would include a $21 billion equity commitment in addition to his bankers’ debt commitments, many wondered how the cash poor chief of Tesla and SpaceX would come up with the cash. But the world’s richest person–worth an estimated $265 billion –is reportedly close to securing $10 billion in equity commitments from other investors, according to the New York Post. After selling more than $8 billion of Tesla shares last week (pre-tax), Musk now has about $8 billion of cash on hand, according to Forbes’ estimates. That means he may be within $3 billion of making his Twitter dreams a reality. After disclosing his Tesla share sales late last week, Musk tweeted: “No further TSLA sales planned after today.” That provided some relief to Tesla shareholders who’d been dumping stock in recent weeks, possibly fearing that share sales by Musk to finance the Twitter acquisition would drive down Tesla’s stock price.
