Twitter (NYSE:TWTR) stock is on the move Thursday as investors react to Elon Musk securing additional financing for his purchase of the social media platform.
Let’s go over all of the newest details about the deal below!
- Musk has lined up another $7.1 billion in funds to acquire the social media company.
- A total of 19 investors came together to provide the funds for the deal.
- Among them is Saudi Prince Alwaleed bin Talal, Oracle (NYSE:ORCL) co-founder Larry Ellison, and venture capitalist Marc Andreessen.
- This is all part of Musk’s plan to set up $27.25 billion in equity to finance the Twitter acquisition.
- He’s also planning to sell $8.5 billion of Tesla (NASDAQ:TSLA) to help fuel the deal.
- To go along with that, Musk wants to use margin loans against TSLA shares to partially fund his acquisition of TWTR stock.
- Outside of this, Musk is also reportedly in talks with Twitter co-founder Jack Dorsey to have him contribute his shares to the deal.
- That seems like it might happen with Dorsey previously saying Musk is the best solution there is to return Twitter to a “public good.”
- So what happens after Elon Musk completes his purchase of Twitter?
- First off, the billionaire intends to take the company private through his buyout offer.
- After that, reports claim that Musk will serve as the CEO of the social media company.
- However, he may only hold that role temporarily before hiring someone else for the job.
- No matter what happens, investors will want to keep an eye on TWTR stock in the coming weeks.
TWTR stock is up 3.6% as of Thursday morning.
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