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Musk wants to raise $3 billion to pay off some of Twitter’s debt


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According to US media reports, American billionaire Elon Musk is aiming to raise billions of dollars to help pay off Twitter’s debts.

Musk’s team has negotiated with investors to raise this amount and pay off part of Twitter’s $13 billion debt.

Last December, people familiar with the matter reported that Musk’s representatives were discussing a sale of up to $3 billion worth of Twitter shares.

Musk’s team told people familiar with the company’s finances that the fundraising operation, if successful, could be used to pay off the highest-interest portion of Twitter’s $13 billion loan package.

People familiar with the matter say the $13 billion in debt banks that backed Musk’s takeover of Twitter have yet to receive any official notice of any payments.

Last October, Musk acquired Twitter for $44 billion.

A few days ago, the American billionaire, founder of Tesla and SpaceX, Elon Musk, broke the Guinness Book record by achieving the largest loss of fortune in history.

Source: Monetary control.

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