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Post by Admin on May 12, 2022 21:15:11 GMT
Elon Musk is reportedly looking to secure more equity for the acquisition of Twitter in order to proceed without billions of dollars worth of loans back by Tesla shares. It comes as Tesla’s share price has fallen to significantly. Last month, Twitter’s board officially accepted Elon Musk’s acquisition offer. It still needs to go to a shareholder’s vote and some details are still being figured out but in the meantime, Musk has proven that he has the funding ready for the transaction. However, it looks like he might be changing things up a bit. Ahead of the offer being accepted, Musk showed that he managed to secure $25.5 billion of fully committed debt and margin loan financing, most of which is backed by his stake in Tesla, and he is going to provide an additional $21.0 billion in equity himself, with money from previous sales of Tesla shares. Over the last few weeks, he revealed several partners proving over $8 billion in equity, including Tesla board member and Oracle founder Larry Ellison providing $1 billion. With the new funding, Musk reduced the number of loans backed by his Tesla shares to $6.25 billion. Now, Musk is apparently looking to raise enough capital through other investors to avoid Tesla-backed loans completely (Bloomberg):
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Post by Admin on May 24, 2022 0:57:17 GMT
Elon Musk vows to vote Republican, calls Democrats party of 'division, hate' 295,172 views May 19, 2022 The Tesla CEO announced on Twitter he would no longer support the Democrats, and anticipates an uptick in political attacks against him as a result of his decision. #FoxNews
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Post by Admin on May 29, 2022 17:45:07 GMT
Elon Musk dares AOC to ask who her followers trust more 321,444 views May 27, 2022 The Tesla founder and CEO polled his Twitter followers on who they trust more: Politicians, or billionaires? #FOXBusiness
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Post by Admin on Jun 5, 2022 17:17:36 GMT
Biden disses Elon Musk on economy: 'Lots of luck on his trip to the moon' 440,102 views Jun 4, 2022 Fox News contributor Joe Concha weighs in on the 'bizarre' bout between President Biden and the world's richest man. #FoxNews
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Post by Admin on Jun 17, 2022 1:09:35 GMT
Elon Musk Facing $258 Billion Lawsuit Over Alleged Dogecoin Pyramid Scheme 327 views Jun 17, 2022 Elon Musk is facing a $258 billion lawsuit by a Dogecoin investor who is accusing him of running a pyramid scheme to support the cryptocurrency that Musk admitted started as a joke. NBC News’ Jacob Ward reports on the suit that comes after Musk met with Twitter’s staff ahead of his $44 billion takeover.
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