This news comes just one day after a report revealed that Musk is talking to prominent investors to reduce the overall burden of the new deal Elon Musk made news when he decided to buy Twitter and take it private. What if we told you that the businessman is already planning to reverse his move by taking Twitter public again. A new report suggests that Musk might be planning to
Elon Musk made news when he decided to buy Twitter and take it private. What if we told you that the businessman is already planning to reverse his move by taking Twitter public again. A new report suggests that Musk might be planning to take Twitter back to the market after a period of 3 years. Also Read - Elon Musk says Twitter may start charging fee for commercial, government users
A new report from the Wall Street Journal has claimed that Elon Musk could take Twitter back to the market within a period of three years. This move was surfaced by people familiar with the matter as Musk continues his hunt for more investors in the $44 billion deal. The report suggests that Musk told the investors about his future plans for the micro-blogging platform. Also Read - Twitter Circle will let you limit your tweets to your closest friends
This news comes just one day after a Reuters report revealed that Musk is talking to prominent investors and firms to reduce the overall burden of the new deal on Musk’s own wealth. There’s no confirmation from either Musk or any of the potential investors regarding this move from the world’s richest person. Also Read - Here’s what Parag Agarwal said when asked if he was getting fired
Despite his title, stemming from a net worth of $245 billion, most of his money is in the form of Tesla shares. Musk recently liquidated $8.5 billion worth of Tesla shares last week, in order to go ahead with the Twitter deal. There was immediate impact of the share value of the EV maker.
The billionaire was earlier expected to put in $21 billion in cash for the Twitter deal as well as take a loan against his Tesla shares. The Reuters report also named some of the potential investors in the Twitter deal. It includes Apollo Global Management Inc (APO.N) and Ares Management Corp (ARES.N) are among the few private equity firms that may provide Musk with more financing for the deal.
Elon Musk also aired a new idea for monetizing Twitter further. He recently revealed his plans to charge businesses and governments for using the platform. On the other hand, he ensured that the “casual user” will continue to use Twitter for free. The idea of better monetization of the platform could also attract a few of Musk’s potential investors to partake in the mega acquisition.Elon Musk plans to take Twitter public within three years: Report View Story