How Elon Musk funded his $44 billion Twitter deal
on Thursday closed the $44 billion deal announced in April to take Twitter Inc private and took ownership of the influential social media platform by firing top executives immediately.
"The bird is freed," he tweeted in an apparent nod to his desire to see the company have fewer limits on content that can be posted. But Musk provided little clarity on how he will achieve his goals. Earlier this month, Musk brought the deal back on the table after previously trying to walk away from it. Musk had said he was excited to buy Twitter but he and his co-investors are overpaying.Musk pledged to provide $46.
Musk's $33.5 billion equity commitment included his 9.6% Twitter stake, which is worth $4 billion, and the $7.1 billion he had secured from equity investors, including Oracle Corp co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal. That had left Musk in need for an additional $22.4 billion of funds to cover the equity financing portion of the deal.
Since the co-backers were revealed, Apollo Global Management Inc and Sixth Street Partners have pulled their offers from the table.Musk, 51, is the world's richest person with a net worth of $222 billion, according to Forbes, but a large portion of his fortune is tied to his stakes in
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