The world’s richest man, Elon Musk, is apparently searching for additional partners to help raise his $61.4 billion for the purchase of the popular social media platform, Twitter.
That would essentially mean that the Tesla owner would need to put less of his own money in the investment. Currently he’s pledged to give the amount of $28 billion out of his own pocket, while the rest will come from loans, with the billionaire having two commitment letters from finance firm Morgan Stanley Senior worth $34.6 billion.
According to Reuters, Musk has approached several investment firms such as Apollo Global Management and Ares Management, while he’s also communicating with high profile individuals and private equity companies to find equity funding.
However, certain investors have proved hesitant to put their money in Twitter as they appear to believe that the billionaire’s plan for the platform to double its revenue seems a little farfetched, pointing out that it did not generate a sufficient amount of cash flow to support such a statement.
Musk has also reached out to several current Twitter stakeholders, including the platform’s co-founder Jack Dorsey, in regards to the potential of them maintaining their shares. The SpaceX owner has previously stated that he would like to see as many of the platform’s current shareholders take part in the company’s future.
The billionaire has made some rather controversial statements following his buyout of the platform, including that he plans to monetise tweets and that he will be reducing the salaries of all Twitter board members down to $0.
