Although the wealth of the world’s richest man is shrinking rapidly (due to the continuous decline of Tesla’s stock price), it does not prevent him from playing well in the capital market.
Musk said Wednesday that he would provide an additional $6.25 billion in equity financing to back the Twitter deal. According to the previous agreement, Musk bought Twitter for $44 billion. As a result, Musk’s margin loan will drop to zero, a sign that Musk is working to close the deal.
Musk is also preparing to negotiate with shareholders to provide more financing commitments for the acquisition. In order to complete the acquisition, Musk had previously pledged Tesla stock to obtain a $12.5 billion margin loan. But Musk had cut margin loans to $6.25 billion earlier this month.
In April, Musk raised $46.5 billion in acquisition funding in the form of debt and equity financing. Now Musk has raised his total equity commitment to buy Twitter to $33.5 billion, the equivalent of Musk’s own money.
According to previous reports, Musk will temporarily serve as Twitter CEO for a few months after the deal closes. Affected by the news, Twitter shares rose 10% in after-hours trading on Wednesday. Tesla shares fell 2.2%.
Hashtags: twitter tycoon musk
.
[related_posts_by_tax taxonomies=”post_tag”]
The post Musk, the richest man in the world, said harshly: If you want to spend another 40 billion yuan, you must acquire Twitter appeared first on Gamingsym.