Elon Musk’s team seeks new funding for Twitter – Investor

Investors revealed that Elon Musk’s team has contacted them to raise new funds for Twitter, which has been having difficulty recently.

Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, was contacted by a Musk representative about offering more shares for the same price of $54.20 that Musk paid to take the company private in October, he told Reuters.

On Friday, news platform Semafor reported that Jared Birchall – the managing director of Elon Musk’s family office – had reached out to potential investors earlier in the week. The article went on to cite two people familiar with the fundraising effort.

Neither Twitter nor Musk replied to Reuters’ requests for comment.

Several advertisers have stopped using Twitter due to concerns about how effective Musk is in regulating tweets. This has consequently caused revenue and the ability to pay interest on the debt (that was Musk’s responsibility) to decrease.

Musk has sold $3.6 billion of Tesla shares this week, meaning he has sold close to $40 billion worth of the electric-vehicle company’s shares this year.

On Friday, Tesla shares had their biggest weekly drop since March 2020. This caused investors to worry more about Musk being easily sidetracked by Twitter and the world economy slowing down.

Twitter has been in trouble for many years, as it failed to keep up with its rivals like Facebook. It’s now even more important for Musk to secure more funding to get the company back on its feet. This could be a great opportunity for investors, and it will be interesting to see how the negotiations will unfold.

The news has made investors around the world pay close attention, as they all wait to see what Musk’s new plan for Twitter will be. So far, there has been no word from either side about the potential agreement, so it’s still a mystery as to how much funding Musk’s team is looking for and who the investors might be.

It will be interesting to see how this story develops in the coming weeks and what Musk’s plans for Twitter will be.  We’ll have to wait and see if he succeeds in getting the funding he needs to get Twitter back on track.

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