Elon Musk Will Not Use Tesla Shares For Twitter!

reached an agreement to acquire Twitter for $44 billion at the end of April. Elon Musk, took some decisions for this purchase that upset the markets. Musk announced that he would provide 12.5 billion dollars of the 44 billion purchase with Tesla shares, and after the reactions, this number increased to 6.25 billion dollars.

But even though the number of Tesla shares that Musk will use to buy Twitter decreased, Tesla’s value continued to fall. Tesla shares have slumped as confidence in Musk has been lost in the past month. close to 30% lost value. After all this, Musk, according to SEC documents shared today Tesla stopped using its shares for Twitter’s acquisition.

Musk’s new purchase plan:

In his first deal with Twitter, Musk planned to raise $21 billion of the $44 billion from personal equity and $25.5 billion using a combination of loans. $12.5 billion of these loans would be secured in exchange for Tesla shares owned by Musk. However, after the first reactions, Musk first reduced this number to $ 6.25 billion and now to 0. In other words, Elon Musk shared his initial planned $21 billion equity stake in total. increased to $33.5 billion.

Tesla and Twitter shares increased with the document:

On the other hand, this move is due to Musk’s Twitter, which announced that he had suspended the agreement recently. still want to buy interpreted as. With the SEC document, both Twitter and Tesla shares increased. Tesla share value increased by close to 5%, while Twitter’s share value increased by close to 4%.

Jack Dorsey has completely cut ties with Twitter:

On the one hand, while Elon Musk developments continued, an important news came from Twitter today. Founder and former CEO of Twitter Jack Dorsey leaves Twitter’s Board of Directors. Dorsey’s departure was actually planned when he stepped down as CEO last year. So this change did not come as a surprise.