Twitter Deal Financing: Tesla CEO Elon Musk, the world’s richest man, has finally taken over as Twitter boss. Elon Musk talked about many things till the completion of this deal and for a long time it seemed that this deal would be in legal trouble. This almost happened but the deadline of October 28 was met and Elon Musk finally introduced himself to the world as the owner of Twitter.
His first assignment was to sack Indian-origin CEO Parag Agarwal, chief financial officer Ned Segal, company policy chief Vijaya Gadde and others. On Friday, sources were quoted as saying that Parag Agarwal has received $38.7 million, Sehgal $25.4 million, Gadde $12.5 million and Personals $11.2 million.
This is how Elon Musk spent for Twitter deal
There was a long tussle over this $ 44 billion Twitter acquisition deal, but now that all this has been resolved, Elon Musk’s big plans regarding the Twitter deal are also coming to the fore. Elon Musk has invested the maximum amount of cash for this deal and it is being told that he is investing a total of $ 27 billion to buy Twitter. Apart from this, the rest of the arrangements have been made through loans, investments.
Elon Musk sold Tesla shares twice in April and August and invested a total of $ 15.5 billion for this Twitter deal. Altogether Elon Musk has invested $27 billion in cash in the Twitter deal.
For the Twitter deal, an amount of $ 13 billion has been taken as loan from banks. Morgan Stanley, Bank of America, Barclays, Societe Generale, BNP Paribas, Mitsubishi UFJ Financial Group are the names of banks lending to the Twitter deal. Morgan Stanley itself has invested $ 3.5 billion in this deal. The special thing is that Twitter has given a guarantee for these loans and their liability is not on Elon Musk but on Twitter.
Qatar’s Sovereign Fund invests
Qatar Investment Authority has also contributed to the Twitter deal and in return for this investment, it will get Twitter shares.
oracle co-founder agreed to the investment
Oracle co-founder Larry Ellison has agreed to invest $1 billion for the Twitter deal. Apart from this, many more investment companies and funds have also contributed for the Twitter deal.
what Elon Musk said
Musk told advertisers on Thursday why he was eventually acquiring Twitter, telling them he wants to make the platform the world’s most respected advertising platform, where users of all ages can watch movies or play video games. can. In a letter to advertisers, he said Twitter cannot become a free-for-all hellscape where anything can be said without consequences. He added that the reason I acquired Twitter is that ‘having a common digital town square is vital to the future of civilization, where a wide range of beliefs can be debated in a healthy manner without resorting to violence.’