Elon Musk is continuing to put together the financing necessary to finalize his deal to buy Twitter. Musk decided to take matters into his own hands and purchase the company outright after he didn’t like the way things were being run. Twitter has already accepted Musk’s offer of $43 billion to buy the company outright.

The Hollywood Reporter revealed today that nearly $7.14 in new funding has been added from various investors. A regulatory filing on Thursday showed the new influx of money, which listed 19 global investors, many from the Middle East. Musk is also in talks to keep Twitter co-founder Jack Dorsey on board as an investor.

The new investment lowers the amount of the huge $12.5 billion margin loan Elon Musk previously borrowed to fund the purchase. It now stands at a more manageable $6.25 billion. The total takeover will be financed with $27.25 billion in cash and equity, according to the filing.

Elon Musk is actively recruiting current Twitter investors to stick with the company. Jack Dorsey is among those. Dorsey has been the face of Twitter for most of its existence.

The Tesla boss has sold a ton of stock and moved a lot of cash to make the deal happen. With such an astronomical price tag, it has been a very complicated process. Elon Musk has his sights set on getting the deal done as quickly as possible while spending as little of his own money as he can.

We will have to wait and see if Jack Dorsey shows any interest in staying with Twitter as an investor. Elon Musk is trying to find a balance between his vision for the company and user expectations. There is sure to be plenty more controversy to come.

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Tags: Elon Musk
Michael Perry

Michael Perry is a news contributor for Ringside News and Thirsty for News. Michael has an M.A. in Communication Technology from Point Park University in his hometown of Pittsburgh, PA.

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