Elon Musk is having a second crack at buying Twitter, says he has $46.5 billion in funding
Published on Apr 22, 2022 at 1:33 AM (UTC-4)
by Ben Welham
Last updated on Apr 26, 2022 at 1:25 AM (UTC-4)
Edited by
Ben Welham
Elon Musk has secured $46.5 billion funding to use in his bid to take over Twitter.
The richest person in the world will use $21 billion of his own money towards the deal, according to a new filing on Thursday.
Luckily, Musk is worth about $274 billion at the moment so he can afford it.
The remaining $25.5 billion needed for the Twitter deal would come from banks, including Morgan Stanley and Bank of America.
Twitter’s board is yet to come to a decision on Musk’s buy proposal, which would equal $54.20 a share.
Musk said he wanted to buy the social media company as a way to uphold free speech and would do so by making Twitter the platform he thinks it should be.
The reason this funding has been so difficult to muster is that despite being worth a boatload, Musk has most of his fortune tied up in Tesla stock.
He is, however, able to borrow against that equity to raise this money for Twitter.
But he can only take so much.
Now that the confirmed funding is in the public domain, will Twitter decide to make the deal?
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Ben is a freelance motoring journalist who studied Journalism and previously produced daily content at DriveTribe. He has a worrying obsession with Tudor watches, and his dream car is the Porsche GT3 Touring.
