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Musk seeks new investors for Twitter, according to various media

Musk seeks new investors for Twitter, according to various media

The news was announced by Semafor and confirmed by The Wall Street Journal, among others, after contacting investors who have received this new offer to put money into the social network.

Among them is Ross Gerber, president of an investment firm that had contributed just under a million dollars to the operation in which Musk took over Twitter and who on Thursday was contacted by the company about the possibility of buying more shares.

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According to these media, the titles are being offered at a price of $54.20, the same price that Musk paid and that Twitter valued at about $44,000 million.

The billionaire tried for months to break or renegotiate the agreement he had reached to take over the company, which since it was acquired has been the subject of numerous controversies and has seen numerous advertisers withdraw their advertising.

Musk himself admitted last month that Twitter had seen a massive drop in revenue and went so far as to speak of the risk of possible bankruptcy in the future.

As part of the purchase transaction, the company took on some $13 billion of debt, so it has to face large interest payments for years to come.

Musk, for his part, has sold billions of dollars in Tesla shares in recent months, the electric vehicle company he runs and in which he has concentrated most of his immense fortune.

Source: EFE

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