Elon Musk’s staff has reached out to buyers to boost new funds for his struggling social media platform Twitter, one of many buyers mentioned.
Ross Gerber, president and CEO at Gerber Kawasaki Wealth & Investment Management, informed Reuters that he was contacted by a Musk consultant about providing extra shares on the identical worth, $54.20, that Musk paid to take the corporate non-public in October.
Jared Birchall, the managing director of Elon Musk’s household workplace reached out to potential buyers this week, news platform Semafor reported on Friday, citing two folks accustomed to the fundraising effort.
Twitter and Musk didn’t reply to Reuters requests for feedback.
Twitter has seen advertisers flee amid worries about Musk’s strategy to policing tweets, hitting revenues and its potential to pay curiosity on the $13 billion debt that Musk took on to purchase the social media firm.
Musk offered one other $3.6 billion price of shares in Tesla earlier this week, making it almost $40 billion price of shares within the electric-vehicle firm offered this 12 months.
Tesla shares on Friday posted their worst weekly loss since March 2020, with buyers more and more involved about Musk being distracted by Twitter and the slowing international financial system.
