35.8 C
Bangkok
Thursday, March 28, 2024

Where will Elon Musk get cash for Twitter?

Elon Musk talks at the Automotive World News Congress at the Renaissance Center in Detroit, Michigan, Jan 13, 2015. (Photo: Reuters)

Elon Musk and Twitter Inc reached an agreement for the world’s richest man to buy the social networking platform for US$44 billion, resolving the pressing question of whether the company’s board would consent to the leveraged buyout deal.

On Musk’s side, though, there remains a mystery: How is he going to cover the $21 billion equity portion of the transaction that he is personally guaranteed?

Musk, 50, has outlined the $13 billion in bank financing secured by the social-media company and the $12.5 billion backed by a pledge of some of his $170 billion Tesla Inc stake. But he has been short on…

Read more…

Latest Articles