Elon Musk Could Be Closer To Buying Twitter Than You Thought

However, all the financial whispers were dashed when Musk officially outlined Twitter-buying finances, one that didn’t involve directly offloading billions worth of Tesla stock. As per documents filed before the SEC, Musk revealed plans of securing $13 billion in financing from Morgan Stanley and a few other banks, a loan worth $12.5 billion secured via his Tesla stock, and $21 billion in equity without revealing the exact source for the latter.  Musk’s proposal made it clear that he was serious about acquiring Twitter, as he continued to take digs at the company’s board via his tweets. The Tesla CEO even tweeted that if he manages to buy Twitter, the board of directors won’t receive any compensation whatsoever. Soon after Musk detailed his financial plan, sentiments across Wall Street changed. More importantly, Twitter’s board took notice of Musk’s move and started discussing the road ahead internally, according to a report from the Financial Times.

It is worth noting that Twitter CEO Parag Agrawal never outright rejected an acquisition by Musk, adding that the company was considering all options on the table. Whether Musk manages to sway the board in his favor and get their nod remains to be seen. As for Musk’s plan, he has repeatedly called out Twitter for failing to promote freedom of speech. Musk, who recently described himself as a free speech absolutist, has proclaimed that Twitter needs to be taken private to make hard changes.