Elon Musk reports that he no longer wants to use his shares in Tesla to fund a loan for the Twitter acquisition. Instead, he wants to pay an additional $6.25 billion from his own resources.
Musk has notification filed with the United States Securities and Exchange Commission of the expiration of the Tesla stock loan. Musk now wants to fund an additional $6.25 billion from its own resources. This brings the part that he himself will have to pay for the acquisition deal to 33.5 billion dollars. In total, it concerns a deal of 44 billion dollars.
It is unclear what will happen with the Tesla CEO’s takeover of Twitter after he announced that the deal is “on hold” as far as he is concerned. Musk first wants to see evidence about how many fake accounts there are on Twitter. The Twitter board has announced that Musk will keep his offer of $44 billion.
Tesla’s share price fell sharply after Musk announced that he would take a loan based on his stake in the car company. It is not clear where the $6.25 billion from own resources comes from. If the deal goes through, Musk says he wants to make Twitter a platform again where people can say what they want.