Elon Musk Increases Personal Twitter Deal Funding to $33.5 Billion
After going back and forth on several different details regarding Elon Musk’s purchase of Twitter, the billionaire entrepreneur seems to have settled on a new amount to invest out of his own pocket.
In a filing on Wednesday, Musk wrote that his personal commitment to the Twitter deal is set at $33.5 billion, according to CNBC.
The deal will still take place at a total of$44 billion, and Musk is currently looking into additional financing for the takeover.
To help finance the remaining portion of the deal, Musk is requesting that others either roll over shares from other companies or personally invest in the social media company.
Elon Musk May Take Twitter Public Again in as Little as 3 Years, Says Report https://t.co/sZrk2BuRCQ
— TeslaNorth.com (@RealTeslaNorth) May 3, 2022
Among those Musk is in discussion with are former Twitter CEO Jack Dorsey and many others.
Following the news of Musk’s commitment to a $33.5 billion investment, shares of Twitter are up 3.92% on Thursday, while Tesla is up 6.5%.
Despite the takeover, a judge upheld the Securities and Exchange Commission’s (SEC’s) decision to oversee Musk’s tweets on the platform, following a 2018 tweet in which Musk said he had “secured funding” to take Tesla private.