Elon Musk is trying to reduce the share of his own money he has to pay for Twitter.

Elon Musk had to pay up to $21 billion from his own funds when buying Twitter assets, for which he sold $8.5 billion worth of Tesla shares. Other funds were planned to be collected through a loan. Now the billionaire is reportedly trying to reduce the share of his own funds in financing the deal, attracting foreign partners and inciting existing Twitter shareholders.

what is known

• Musk has said before that he wants to retain as many active Twitter shareholders as possible – according to US law, their number could reach 2,000 after the company is privatized.
• According to Reuters, the billionaire is seeking Twitter shareholders willing to invest in future share buybacks.
• Negotiations are underway with major institutional investors such as Fidelity, for example, as well as founder and board member Jack Dorsey.
• Elon Musk is trying to find big investors to help him buy Twitter in exchange for preferred shares of this company to reduce his personal financial burden.
• These types of securities allow their holders to receive a fixed amount of dividends, like bonds, while also allowing their market value to change as the capital of the business increases or decreases.
• Apollo Global Management and Ares Management Corp are two candidates for funding, but the list is not limited to these.
• Both hedge funds and private investors can become partners of Mask.

The source said that under Twitter’s guarantees, Ilona Maska failed to raise more than $ 13 billion in banks, another $ 12.5 billion was secured by loans provided by Tesla shares, but the billionaire is not ready to create new debts to buy Twitter.

It will be remembered that Elon Musk initially bought a little over nine percent of Twitter shares, but later said that his vision for the future of the social network was impossible until he became sole owner. Therefore, he started negotiations to sell the company at an inflated price. The board of directors and shareholders accepted his proposal.

What does Musk want for Twitter?

Now the billionaire says he wants to significantly expand Twitter’s audience: He hopes the platform should be used by most of America. According to him, the social network is now a “niche” product and he wants to get as many people as possible to use it in the future.

Now it’s kind of a niche. I want a much larger percentage of the country’s population to be on the platform and engage in dialogue,
Said Musk answers questions from journalists on the red carpet before the Net Gala event in New York.

According to the latest financial report on Twitter, nearly 40 million Americans currently use the platform every day.