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Elon Musk to sell SpaceX shares to buy Twitter

  • May 17, 2022
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According to the New York Post, billionaire Elon Musk plans to sell some of his SpaceX shares to a select group of buyers today. Musk is trying to

Elon Musk to sell SpaceX shares to buy Twitter

According to the New York Post, billionaire Elon Musk plans to sell some of his SpaceX shares to a select group of buyers today. Musk is trying to raise more money to buy the social network Twitter.

SpaceX shares will help him in this regard. As of August, Tesla’s author owned 44% of SpaceX, according to federal documents. The offer is for existing shares, not new shares. The Mask-controlled company raised $337 million, most recently in December, valued at $100 billion.

According to the source, SpaceX will raise $70 per share this time around – 25% more than the previous round, or roughly $125 billion divided by 10, according to the source. Elon Musk is talking to private equity firms including Apollo Global Management and hedge funds about a $2 to $4 raise.

In late April, Musk reached an agreement to buy Twitter for $44 billion. Announcing the acquisition, he said he wanted to turn Twitter into a worldwide free speech platform. Bloomberg reports that Twitter could reach Ilona Mask for less than the $44 billion previously announced.

Source: Port Altele

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