HomeNews listOBJECTIVE PRESSElon Musk will put up $6 billion to drop Tesla loans from his Twitter deal

Elon Musk will put up $6 billion to drop Tesla loans from his Twitter deal

  • May 25, 2022
  • Posted by: AliensFaith
  • Category: OBJECTIVE PRESS
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Illustration by Kristen Radtke / The Verge; Getty Images

After a brutal month for Tesla stock, Elon Musk will no longer fund his Twitter buyout by borrowing against his Tesla ownership stake.

In a filing with the Securities and Exchange Commission, Musk announced the expiration of a series of margin loans against Tesla stock, which had been included as part of his original financing plan to acquire Twitter. As part of the announcement, Musk committed to providing an additional $6.25 billion in equity financing, bringing his total commitment to $33.5 billion.

Musk’s initial plan to acquire Twitter involved a combination of $21 billion in personal equity and $25.5 billion in loans. $12.5 billion of those loans…

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Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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