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To fund the acquisition of Twitter now called X, Elon Musk had taken a loan of $1 billion from SpaceX that was backed by some of his stock in the company

Elon Musk borrowed $1 billion from SpaceX for Twitter acquisition: Report

To fund the acquisition of Twitter now called X, Elon Musk had taken a loan of $1 billion from SpaceX that was backed by some of his stock in the company

Billionaire Elon Musk reportedly took a loan of $1 billion from SpaceX while acquiring Twitter now called X. Musk took over X in a $44 billion deal.&nbsp;
According to Wall Street Journal, last October, SpaceX approved the $1 billion loan which was backed by some of Elon Musk's SpaceX stock. He drew all of it down in the same month he took ownership of Twitter.&nbsp;
Musk also has an agreement with the banks to borrow against his shares in companies that include Tesla, while SpaceX has served as his lender.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/elon-musk-s-twitter-as-x-may-face-a-slew-of-lawsuits-1690276342436">Elon Musk's Twitter as 'X' may face a slew of lawsuits</a>
This had put Musk's financial situation in a jeopardy. To fund the acquistion, Elon Musk sold a massive chunk of his Tesla shares in 2022, both before and after the Twitter deal, bringing his total sales to about $40 billion which frustrated investors in the EV maker. In December 2022, Musk sold more than $3.5 billion worth of Tesla Inc. stock in the second round of sales since buying X. He sold nearly 22 million Tesla shares over a three-day period ended Dec. 14, according to a regulatory disclosure.&nbsp;
This led to Tesla further tightening rules around Musk using his stake in the company to borrow money.&nbsp;
As of March, Musk is SpaceX's largest shareholder with 42% stake and almost 79% of its voting power. As per Reuters, SpaceX had $4.7 billion in cash and securities on hand at the end of last year

Elon Musk plans to sell Twitter shares worth $3 Billion

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

Elon Musk plans to sell Twitter shares worth $3 Billion

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.

 Elon Musk has permanently suspended Kathy griffin’s Twitter account as she had changed her display name to Elon Musk and asked people to support Democratic candidates in the US midterm election. 

Elon Musk suspends Kathy Griffin's Twitter account permanently 

Gigi Hadid, Shonda Rhimes, Toni Braxton and others have quit Twitter and switched to a different platform.

Elon Musk has permanently suspended Kathy griffin&rsquo;s Twitter account as she had changed her display name to Elon Musk and asked people to support Democratic candidates in the US midterm election.&nbsp;

The Twitter account of comedian-actor Kathy Griffin has been permanently suspended for &lsquo;engaging in impersonation&rsquo;. Kathy had changed her display name to Elon Musk and asked people to support Democratic candidates in the US midterm election. A screenshot of her, now viral, tweet, read, &lsquo;After much-spirited discussion with the females in my life. I have decided that voting blue for their choice is only right (They&rsquo;re also sexy females, btw) #VoteBlueToProtectWomen.&rsquo;&nbsp;
 After the suspension of Kathy&rsquo;s account, the Tesla CEO and Twitter's new boss issued a warning on his handle and said that going forward, any Twitter handles engaging in impersonation without clearly specifying &lsquo;parody&rsquo; will be permanently suspended.&nbsp;
 In a tweet, he also said that Kathy Griffin can get her account back if she pays $8 (the blue tick fee).&nbsp;
 Many netizens are accusing Musk of cracking down on free speech after this move. However, Musk has said that his commitment to free speech extends even to not banning the account following his plane, even though that is a direct personal safety risk.&nbsp;
 Twitter's blue tick fee is the first major change to the platform after <a href="https://www.editorji.com/partner/boomlive/meet-the-indian-man-who-is-helping-elon-musk-revamp-twitter-1667399359079">Elon Musk</a> took charge of the site.&nbsp;
 Many Hollywood celebrities like Gigi Hadid, Shonda Rhimes, and Toni Braxton have quit Twitter and switched to a different platform.&nbsp;
Also Watch: <a href="https://www.editorji.com/entertainment-news/hollywood/twitter-exodus-see-who-signed-off-and-who-stayed-following-elon-musk-s-takeover-1667633925488">Twitter exodus: See who signed off and who stayed following Elon Musk&rsquo;s takeover</a> &nbsp;

The new plan's pricing, up from the current $5 per month, would be adjusted by country "proportionate to purchasing power parity," Musk added in a reply to his original tweet

Musk announces monthly charge for verified Twitter accounts

Charge for verified Twitter accounts

The new plan's pricing, up from the current $5 per month, would be adjusted by country "proportionate to purchasing power parity," Musk added in a reply to his original tweet

New Twitter head Elon Musk said the site will charge $8 per month to verify users' accounts, arguing the plan would solve the platform's issues with bots and trolls while creating a new revenue stream for the company.
The announcement comes only days after the world's wealthiest man took sole control of the social media giant in a contentious $44 billion deal.
"Power to the people! Blue for $8/month," Musk, who has styled himself as a free-speech champion, tweeted, in reference to the platform's paid subscription service, Twitter Blue.
Under the new plan, paid subscribers would receive Twitter's famous blue checkmark that signals a verified, authentic account.
That feature is currently offered only to public figures, an approach Musk described as a "lords &amp; peasants system."

Krishnan started his career at Microsoft where he touched numerous projects related to Windows Azure

Sriram Krishnan: Indian-origin executive who is helping Musk to 'revamp' twitter

Krishnan started his career at Microsoft where he touched numerous projects related to Windows Azure

Sriram Krishnan, an Indian-origin technology executive, is &ldquo;helping out&rdquo; Twitter&rsquo;s new owner Elon Musk as he revamps the social media giant following its acquisition by the billionaire entrepreneur.
Krishnan is a general partner at Silicon Valley venture capital firm Andreessen Horowitz (a16z).
&ldquo;Now that the word is out: I&rsquo;m helping out @elonmusk with Twitter temporarily with some other great people. I (and a16z) believe this is a hugely important company and can have a great impact on the world and Elon is the person to make it happen,&rdquo; Krishnan tweeted.
Krishnan is an alumnus of SRM Engineering College, Anna University where he did his Bachelor of Technology (B.Tech) in Information Technology.
Last week, Musk completed the USD 44 billion acquisition of Twitter and ousted chief executive Parag Agrawal, legal executive Vijaya Gadde, Chief Financial Officer Ned Segal and General Counsel Sean Edgett.

The report also points out that Twitter engineers are given a deadline to revamp the Twitter verification process or they will lose their jobs

Twitter blue tick users to pay this much per month

Money for Twitter's blue tick?

The report also points out that Twitter engineers are given a deadline to revamp the Twitter verification process or they will lose their jobs

It is not even a week since Musk formally acquired Twitter, the microblogging site is reportedly planning to revise its entire user verification process.
Twitter's new owner Elon Musk has said that the verification process on the platform, which adds a blue tick next to the profile name, is being revamped.&nbsp;
Users would have to subscribe to Twitter Blue at $20 a month or lose their "verified" badges if the project moves forward, according to the report.
Moreover, users who are already verified will get 90 days to subscribe to Twitter Blue in order to keep the blue tick on their profile. It remains unclear whether Twitter will change rules to make the verification process more strict or lenient.
The report also points out that Twitter engineers are given a deadline to revamp the Twitter verification process or they will lose their jobs.

According to a May 2022 article in The New York Times, if Musk removed him as chief executive, Agrawal could make USD 60 million, as per securities filings

Parag Agrawal's tenure as Twitter CEO ends as Musk takes control

According to a May 2022 article in The New York Times, if Musk removed him as chief executive, Agrawal could make USD 60 million, as per securities filings

When Parag Agrawal was appointed CEO of Twitter in November 2021, the IIT graduate joined a steadily growing club of executives from India rising to the top of global corporations, but the 38-year-old executive's brief tenure at the helm of the social media giant was challenging and chaotic.
Less than a year into his job as CEO, India-born Agrawal was ousted from the company by its new owner billionaire Elon Musk who closed the 44 billion dollar deal to acquire the social media behemoth.
An IIT Bombay and Stanford alumnus, Agrawal joined Twitter in 2011 when there were fewer than 1,000 employees. Rising in the company, he became Twitter&rsquo;s chief technology officer in 2017. Considered a protege of Twitter co-founder Jack Dorsey, Agrawal was appointed CEO of Twitter after Dorsey stepped down.
Agrawal previously went to court to hold the Tesla chief to the terms of a deal he had tried to escape.
According to a May 2022 article in The New York Times, if Musk removed him as chief executive, Agrawal could make USD 60 million, as per securities filings.
Agrawal is married to Vineeta Agarwala, a physician and adjunct clinical professor at Stanford Medicine. They have two children.&nbsp;

The reports came hours before the court-appointed deadline for Musk to seal his on-again, off-again deal to purchase the social media network

Elon Musk takes control of Twitter, fires top executives

It's official! Elon Musk owns Twitter 

The reports came hours before the court-appointed deadline for Musk to seal his on-again, off-again deal to purchase the social media network

After months of legal drama, bad memes, and will-they-or-won’t-they-chaos, Elon Musk has completed his $44bn (£38.1bn) takeover of Twitter. 
According to reports, Musk sacked chief executive Parag Agrawal, as well as the company's chief financial officer and its head of legal policy, trust and safety.  
The reports came hours before the court-appointed deadline for Musk to seal his on-again, off-again deal to purchase the social media network.
Musk tweeted on Thursday that he was buying Twitter "because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner."

The billionaire Tesla chief captioned the video "Entering Twitter HQ - let that sink in!

Elon Musk visits Twitter HQ as takeover deadline looms

Will he buy twitter or not?

The billionaire Tesla chief captioned the video "Entering Twitter HQ - let that sink in!

Elon Musk posted video showing him strolling into Twitter headquarters ahead of a deadline to close his $44 billion deal to buy the company.
Musk also changed his Twitter profile to refer to himself as &ldquo;Chief Twit&rdquo; and his location as Twitter headquarters, which is based in San Francisco. The video showed him carrying a sink through a lobby area.
&ldquo;Entering Twitter HQ - let that sink in!&rdquo; he tweeted.
A court has given Musk until Friday to close his April agreement to acquire the company after he earlier tried to back out of the deal.
Neither Musk nor Twitter has said if the deal is closed yet.
Despite Musk's splashy entry to headquarters, it wasn't clear yet whether his purchase of Twitter had been finalised.
Twitter confirmed that Musk's video tweet was real but wouldn't comment further.

As this Twitter deal reaches next stage, South Korea’s Mirae Asset Financial Group is reportedly planning to commit about 300 billion Korean won in order to help finance this Twitter buyout by Elon Musk

Elon Musk likely to close Twitter deal by Friday: Report

Will Elon Musk close Twitter deal by this week?

As this Twitter deal reaches next stage, South Korea&rsquo;s Mirae Asset Financial Group is reportedly planning to commit about 300 billion Korean won in order to help finance this Twitter buyout by Elon Musk

As time is running out for Elon Musk to complete the $44 billion acquisition of Twitter, there has been report that said Musk is expected to close the Twitter acquisition deal by Friday.&nbsp;
According to reports by Bloomberg, Musk has already informed of his intent to co-investors and the infamous Twitter buyout is now expected to close. The execution of the deal is expected to happen via a video conference call with bankers who are also helping fund this Twitter deal.&nbsp;
The Twitter deal acquisition report by Bloomberg News also mentions that the banks have finished putting together the final credit agreement. Now, they are also in the process of signing the documentation in order close the deal soon.&nbsp;
Elon Musk has agreed to provide $46.5 billion in equity and debt financing for this Twitter acquisition. Apart from this, banks like Morgan Stanley and Bank of America Corp., have reportedly pledged to provide $13 billion of debt financing.

elon musk buy twitter

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