HUGE: Elon Musk Confirms He Has Secured Funding Needed for Bid to Buy Twitter
Tesla Motors CEO Elon Musk has been in the news recently for his ongoing effort to buy the social media site Twitter.
While his free-speech rhetoric is resonating with many critics of the site, plenty of progressives are concerned about what might happen if Musk takes over.
Although he has been toying with the idea for some time, news broke this week that he has apparently secured nearly $48 billion in financing to back up his plan.
As The Western Journal reported:
When Musk went public with his proposed offer to buy Twitter, the biggest question that remained was how exactly he was bankrolling the offer.
But in a new filing, he said he has lined up more than $25 billion in debt commitments from banks such as Morgan Stanley, Bank of America Corp. and other European and Asian banks. About half of the debt commitments are secured by his shares in Tesla, the Wall Street Journal reported.
Musk is then personally committing $21 billion in equity.
One source familiar with the matter told the Journal that he is still considering bringing in an equity partner and has continued to receive interest in the matter.
The new filing outlining the financing also stated that Musk has not yet determined he will make a tender offer for Twitter or whether he will take other steps to further the proposal, CNBC News reported.
Musk’s plan is clearly very popular among a large group of Twitter users.
ELON MUSK is a Capitalist. He is buying Twitter to set our FREEDOM of SPEECH free from the rats, rodents, and reptiles hiding in Twitters WOKE Corporate Culture. I love capitalism. I love freedom. I love Elon.
— Robert Kiyosaki (@theRealKiyosaki) April 19, 2022
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