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  • Report: Elon Musk's team is considering selling $3 Billion Twitter Shares
  • Musk denies the accuracy of the report on Twitter
  • Funds would pay a portion of the debt

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Report: Elon Musk plans to sell $3 Billion Twitter shares

Elon Musk plans to sell Twitter shares worth $3 Billion

Updated: Sep 02, 2022 10:53
|

Editorji News Desk

Report: Elon Musk plans to sell $3 Billion Twitter shares

According to a recent report from the Wall Street Journal, it has been suggested that Elon Musk and his team may be exploring the possibility of raising funds by selling new shares of Twitter. This move would reportedly be used to help pay down some of the $13 billion debt the company incurred as a result of its acquisition in October. Though this information was discussed in December, Mr. Musk has taken to Twitter to deny the accuracy of the report.

The debt was obtained from a group of banks, such as Morgan Stanley and Bank of America, to finance the acquisition. The proceeds from the potential equity raise would be utilized to pay down a portion of the debt with the highest interest rate.

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