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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.

Twitter cited lack of clarity in its latest move and said that 'official' badges only added to more confusion among users.

Twitter backtracks on its 'official' badge move just hours after rolling it out

Twitter cited lack of clarity in its latest move and said that 'official' badges only added to more confusion among users.

Just hours after it started rolling out gray 'official' labels for some high-profile accounts, Twitter backtracked on its latest move.
Musk who bought Twitter last month, said in a tweet, "Twitter will do lots of dumb things in coming months. We will keep what works &amp; change what doesn&rsquo;t."
In India, Twitter accounts of Prime Minister Narendra Modi, President Draupadi Murmu, Congress, BJP and TMC were tagged as 'official'. Profiles of Amitabh Bachchan, Shah Rukh Khan and Virat Kohli also displayed the badge on Wednesday.
The site's current system of using what are known as 'blue checks' confirming an account's authenticity will soon go away for those who don't pay a monthly fee.
Also watch: <a href="https://www.editorji.com/world-news/biden-musk-s-twitter-deal-worth-being-looked-at-1668055720799">Biden: Musk&rsquo;s Twitter deal &lsquo;worth being looked at&rsquo;</a>
The checkmarks will be available at a yet-to-be-announced date for anyone willing to pay a $7.99-a-month subscription, which will also include some bonus features, such as fewer ads and the ability to have tweets given greater visibility than those coming from non-subscribers.

US president’s comments come amid scrutiny of Saudi prince Alwaleed bin Talal’s stake in the microblogging platform.

Biden: Musk’s Twitter deal ‘worth being looked at’

US president&rsquo;s comments come amid scrutiny of Saudi prince Alwaleed bin Talal&rsquo;s stake in the microblogging platform.

The cooperation or the technical relationships that Tesla founder Elon Musk is having with other countries is worthy of being looked at, US President Joe Biden has Wednesday.
&ldquo;I think that Elon Musk's cooperation and/or technical relationships with other countries is worthy of being looked at,&rdquo; he told reporters at a White House news conference on Wednesday.
&ldquo;Whether or not he is doing anything inappropriate, I'm not suggesting that. I'm suggesting that it is worth being looked at. That's all I'll say,&rdquo; Biden said when asked if he thinks Musk is a threat to the US national security.
&ldquo;There are a lot of ways,&rdquo; he said when asked how.
US president&rsquo;s comments come amid scrutiny of Saudi prince Alwaleed bin Talal&rsquo;s stake in the microblogging platform.
Also watch: <a href="https://www.editorji.com/world-news/twitter-backtracks-on-its-official-badge-move-just-hours-after-rolling-it-out-1668060014473">Twitter backtracks on its 'official' badge move just hours after rolling it out</a>
Musk completed his $44 billion takeover of the social media platform in October.
with PTI inputs

twitter deal

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