It was alleged that Elon Musk was trying to collect $3 billion to pay off part of the $13 billion debt incurred in the Twitter purchase. Musk denied this claim.
Elon Musk’s Twitter, which has not fallen from our agenda with its coming to power, has not been going through very good times financially lately. So much so that it was recently revealed that Twitter lost $ 50 million in November and December. In addition, current debt 13 billion dollars was also stated.
That’s why Musk started making moves to cut costs, as we’ve seen in other tech companies. Now it turns out that Musk wants to make another move regarding the bad course of Twitter.
Musk is trying to raise $3 billion to pay off some of the $13 billion debt
According to a report by the Wall Street Journal, which is based on sources close to the subject, Musk wants to stop the company’s constantly deteriorating financial situation and raise money to pay off its debt.
The report states that Musk’s team is trying to repay some of the $13 billion debt. 3 billion dollar fund researched reported. It was also reported that Musk is considering selling Twitter shares for $3 billion in December.
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This massive debt comes after Musk took $13 billion from several banks to complete his Twitter purchase in October. was charged to the company.
Musk denied the claim
After the allegation emerged, users asked Musk if it was true. Musk said “No” He denied it by replying.
Musk has been trying to minimize spending due to financial problems that have dragged Twitter to the bottom in recent months. The famous billionaire had not even paid rent in his offices, in addition to laying off thousands of his employees. In fact, we’ve even seen the office items being auctioned off recently.
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Source :
https://www.wsj.com/articles/elon-musk-explores-raising-up-to-3-billion-to-pay-off-twitter-debt-11674669412