Nuked Hey everyone! Nuked here and I have a new article for you. Elon Musk has been trying to raise $3 billion for an unsecured portion of Twitter’s $13 billion debt. However, reports indicate that investors are not immediately jumping in line to grab the pieces of Twitter he’s offering.
Sources tell The Wall Street Journal that in December, Musk’s team sent out emails to potential investors trying to raise the $3 billion. Though some backers “balked at the terms” due to Twitter’s current financial state, the exact status of the fundraising talks is still unknown.
Interestingly, during his recent securities fraud trial, Musk boasted about his ability to secure investments, saying that it’s “relatively easy” for him to get investor support due to his “track record” of raising money. He even noted that investors have done “extremely well” when it comes to his ventures.
However, Fidelity, an investment firm that supported Musk’s Twitter acquisition, cut the value of its stake in Twitter from $53.47 million in October to $23.46 million in November—a 56 percent dip. Though Musk has denied the reports on Twitter, this may be one of the reasons investors are not as eager as he’d like.
Furthermore, when Musk acquired Twitter in November he was already paying more than the current asking price—which may also be causing potential investors to think twice. Not to mention that since then, he has been pushing away advertisers and banning journalists from the platform.
If you’re looking for a way to help out the billionaire, but don’t have $250,000 for ad space or enough money for a few thousand shares of Twitter at Elon’s price, there’s always the annual Twitter Blue subscription for $84.
