San Francisco:
The general manager of Elon Musk’s family office is seeking new equity investors for Twitter, news platform Semafor reported Friday, citing two people familiar with the fundraising.
Jared Birchall, Musk’s asset manager, reached out to potential investors this week and offered shares of Twitter for the same price, $54.20, that Musk paid to take the company private in October, the report said.
Twitter and Musk did not immediately respond to Reuters’ requests for comment.
Musk sold another $3.6 billion worth of shares in Tesla Inc earlier this week, selling nearly $40 billion worth of shares in the electric vehicle company this year.
The sale is the second major share of Tesla stock the billionaire has paid out since his $44 billion purchase of Twitter in October, despite saying in April he was done selling the electric vehicle company’s stock. .
Meanwhile, Twitter has seen advertisers flee concerns over Musk’s approach to controlling tweets, monetization and ability to pay interest on the $13 billion debt Musk took on to buy the social media company.
Ross Gerber, a Tesla investor who said he put less than $1 million into Musk’s original acquisition of Twitter, confirmed that he had been contacted Thursday evening about a new round of funding, Semafor reported.
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
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