{"id":601437,"date":"2023-01-26T06:49:09","date_gmt":"2023-01-26T12:49:09","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/26\/elon-musk-testified-its-easy-to-raise-money-so-where-are-his-twitter-investors\/"},"modified":"2023-01-26T06:49:09","modified_gmt":"2023-01-26T12:49:09","slug":"elon-musk-testified-its-easy-to-raise-money-so-where-are-his-twitter-investors","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/26\/elon-musk-testified-its-easy-to-raise-money-so-where-are-his-twitter-investors\/","title":{"rendered":"Elon Musk testified it\u2019s \u2018easy\u2019 to raise money, so where are his Twitter investors?"},"content":{"rendered":"
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Elon Musk is trying to cut back on costly unsecured loans tied to his $44 billion Twitter purchase by selling $3 billion worth of Twitter shares, according to a report from The Wall Street Journal<\/em><\/a>. But despite what Musk has said recently about his \u201ctrack record\u201d of raising money, the paper claims investors aren\u2019t immediately getting in line to grab the pieces of Twitter he\u2019s offering.<\/p>\n

Sources tell the WSJ<\/em> that in December, the billionaire\u2019s team sent out emails to potential investors trying to raise $3 billion to pay off \u201can unsecured portion\u201d of Twitter\u2019s $13 billion debt<\/a> with the highest interest rate. The WSJ<\/em> reports some backers \u201cbalked at the terms\u201d due to the state of Twitter\u2019s finances but also notes it couldn\u2019t determine the current state of fundraising talks.<\/p>\n

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Fidelity, an investment firm that supported<\/a> Musk\u2019s Twitter acquisition, cut the value of its stake in Twitter<\/a> from $53.47 million in October to $23.46 million in November, representing a 56 percent dip.<\/p>\n<\/div>\n

When asked on Twitter<\/a> whether the WSJ<\/em>\u2019s report is accurate, Musk answered simply, \u201cNo.\u201d <\/p>\n

In sharp contrast to the reports, Musk has boasted about his ability to secure strong investments during his securities fraud trial<\/a>. Testifying on Tuesday, the billionaire bragged that it\u2019s \u201crelatively easy\u201d for him to secure investments:<\/p>\n

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Every time we\u2019ve raised money, it has been at a higher price. So investors have done extremely well. That is why it is relatively easy for me to get investor support because my track record is extremely good… It is accurate to say that I probably have the best track record with investors.<\/p>\n<\/blockquote>\n<\/div>\n

Fittingly, the trial centers around Musk\u2019s notorious 2018 tweet<\/a> that said he had the \u201cfunding secured\u201d to take Tesla private. Messages revealed as part of the lawsuit suggest that Musk eventually became frustrated<\/a> with Saudi Arabia\u2019s Public Investment Fund \u2014 one of the investors Musk claims promised<\/a> to provide Tesla with funding \u2014 after it didn\u2019t vouch for his statement.<\/p>\n

Shortly after taking over the platform in November, Musk complained<\/a> about losing $4 million per day and didn\u2019t rule out the possibility of bankruptcy. <\/p>\n

Still, if you\u2019d like to help out the former world\u2019s richest man and you can\u2019t afford to spend $250,000 on ad space<\/a> and enable a free matching deal or to purchase a few thousand shares of Twitter at Elon\u2019s price, there\u2019s always the annual Twitter Blue subscription<\/a> for $84.<\/p>\n

Correction January 25th, 10:14PM ET: <\/strong>A previous version of the article incorrectly stated Musk was offering Tesla shares at $54.20 per share when it was Twitter. We regret the error.<\/em><\/p>\n<\/div>\n

Read More<\/a>
\n Emma Roth<\/p>\n","protected":false},"excerpt":{"rendered":"

Elon Musk is trying to cut back on costly unsecured loans tied to his $44 billion Twitter purchase by selling $3 billion worth of Twitter shares, according to a report from The Wall Street Journal. But despite what Musk has said recently about his \u201ctrack record\u201d of raising money, the paper claims investors aren\u2019t immediately<\/p>\n","protected":false},"author":1,"featured_media":601438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29038,46,3423],"tags":[],"class_list":{"0":"post-601437","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-its","8":"category-technology","9":"category-testified"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/601437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=601437"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/601437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/601438"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=601437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=601437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=601437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}