Elon Musk Is Negotiating With Large Investment Companies And High Net Worth People To Provide More Financing For His $44 Billion Acquisition Of Twitter And Reduce His Personal Investment In The Deal, People Familiar With The Matter Said. Although Musk Is Currently The World's Richest Man And Forbes Estimates His Net Worth At About $245 Billion, Most Of His Wealth Is Linked To Tesla's Shares.
Last Week, Musk Disclosed That He Sold $8.5 Billion Worth Of Tesla Shares After Agreeing To Buy Twitter.
People Familiar With The Matter Said That The New Financing May Be In The Form Of Preferred Shares Or Common Shares, Which Is Expected To Reduce Musk's $21 Billion Cash Contribution And His Margin Loan Guaranteed By Tesla Shares. Private Equity Firms Such As Apollo Global Management And Ares Asset Management Have Been Negotiating Financing.
Musk Has Also Been Negotiating With Some Major Shareholders Of Twitter To Discuss The Possibility Of Putting Their Shares Into Trading Rather Than Cash Out. Jack Dorsey, A Former CEO And Current Board Member Of Twitter, Is Considering Whether To Put His Shares Into The Transaction. Large Institutional Investors Such As Fidelity Investment Are Also Discussing Putting Their Shares Into Trading. Musk Previously Said On Twitter That He Would Try To Retain More Investors When He Privatized The Company.