According to the report, Musk is looking for additional equity financing to help him reduce the amount of money he has to put up in order to complete the acquisition.
The grand opening party for the Cyber Rodeo was held in Austin, Texas, on April 7.
Musk is talking to hedge funds, private equity companies and wealthy individuals about the possibility of getting equity financing.
In addition to the equity financing, Musk has offered a margin loan against part of his stake in the company and loans against the assets of the company.
Some banks that offered to support the acquisition with loans secured against Twitter have hesitated to provide additional debt financing because they think the company didn't generate enough cash flow to justify more loans.
Musk is considering whether to ask equity partners to help him with his $21 billion share of funding for the acquisition of the micro-blogging site, according to a report.
According to the report, Musk has contacted major shareholders about the possibility of keeping their stakes in the company. Following the planned acquisition, Musk has suggested that he wants to retain as many existing shareholders as possible.
The board adopted a poison pill after Musk made his best and final offer to purchase the entire company for $54.20 per share. Despite setting a lofty goal of doubling revenue, the growth of the company has been slower than expected. In the first quarter of 2022, the company's revenue grew by 16%. The company's net income grew 655% year-over-year to $513 million, though this growth was due mostly to a gain of $970 million from the sale of the mobile ad network MoPub. Musk said that he intends to cut costs by reducing the salaries of the board members and that he intends to boost the profitability of the company.
$253.6 billion. Forbes estimates that Musk is the world's richest person. Most of his fortune is attributed to his stakes in the two companies.
How Musk Already Owns Twitter: The 8 Top Tweets in the Past Week.
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