Only on Thursday, Musk made it public that he has sold Tesla shares worth four billion dollars – probably to finance the Twitter deal.
According to insiders, Elon Musk wants to make the $ 44 billion Twitter purchase a financial success as quickly as possible. He told banks financing the takeover that he could cut executive salaries and find new ways to monetize tweets, three people familiar with the matter told Reuters. This was part of his pitch to financial institutions to secure sufficient funds for the billion-dollar purchase.
Ultimately, Musk received a $13 billion loan secured with Twitter shares and a $12.5 billion loan secured with Tesla securities. Only on Thursday, Musk made it public that he has sold Tesla shares worth four billion dollars – probably to finance the Twitter deal.
According to the insiders, the Tesla boss campaigned for the favor of the banks with a vision rather than with concrete proposals. The exact savings potential is unclear. However, the 50-year-old pointed out that competitors such as Facebook owner Meta and Pinterest had better gross margins than Twitter. Musk has also already expressed ideas in several tweets on how the US short message service could be changed, citing, for example, the paid subscription service Blue.
On Monday, the world-famous company with more than 217 million users agreed to the $ 44 billion purchase offer. Musk wants to take the 16-year-old company off the stock market.