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Musk Pledges An Additional $6.25 Billion In Equity To Fund Twitter Takeover

Elon Musk has pledged an additional $6.25 billion in equity to fund his Twitter takeover, according to a regulatory filing on Wednesday.

The additional equity means the billionaire’s margin loan against his Tesla shares has reduced to zero. Musk’s move also suggests that the Tesla boss is still interested in buying the social media company, despite earlier announcing that the deal was on hold.

Musk said on Wednesday he was also in talks with shareholders, including former Twitter chief executive Jack Dorsey, about additional funding pledges to fund the deal.

In April, Musk provided about $46.5 billion in debt and equity for the purchase of Twitter, with the billionaire providing $33.5 billion for the acquisition. Musk initially borrowed $12.5 billion, but later reduced it to $6.25 billion after bringing in co-investors.

Ahead of Wednesday’s development, Musk said he had put the deal on hold after accusing the company of lying about the percentage of spam bots on the platform, and called on Twitter to provide evidence that spam bots account for less than 5% of its total users.

The sources for this piece include an article in Reuters.

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