It seems like a one-man show, but it is actually a kind of Suicide Squad of big tech moguls and financiers coming together. The holding companies of Middle Eastern nations and a few moneyed crypto supporters jumped in first. All of them have Musk's ear and are trying to figure out which way to go.
It is likely that Musk is feeling the pressure from the more than 20 companies, venture firms, banks, and at least one, just as much as he is.
The investors may have lost out. Because Musk spent so much time trying to back out of the deal, the company's stock price fell and many of the biggest tech companies have not done too well. Over the last few months, the original asking price has become a bigger problem.
In October, one of the heads of Manhattan Venture Partners told Business Insider that they were all trying to get out of the deal. They were not happy with the amount of money they were paying for a company that may look like a $10 billion or $12 billion company. There was a $7.1 billion equity put into the deal.
The vast majority of equity investors have been spoken to and are all in, according to Alex Spiro, Musk's attorney. We don't know how many people are paid up.
Advertisers are looking to cut ties with the platform as time goes on. Musk blamed "activists" for the drop in ad revenue on the platform.
Musk took out almost $13 billion in loans for his purchase, and he will have to pay them off for years. Now that it is a private company, the loans and interest payments are being laid like a steaming cow patty. Musk will have to pay $1 billion a year for the next few years, according to a report. The New York Times warned back in April that paying back loans could be a harder thing to do.
Most of the funds came from the world's richest man, but we don't know if anyone else contributed. The billionaire used more shares as security for his loans, according to previous SEC filings.
The net worth of Musk is under $200 billion, according to a report. Like many of the globe's ultra wealthy, he has seen declines. It will be interesting to see how this affects Musk's wealth. He has plenty of time and the platform to whine about it.
The information in this article is what we know so far. It's not clear which investors have paid up. If there is more information coming down the line, we will update this post.
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