Elon Musk plans to take Twitter public once more in as little as three years of shopping for the social media firm, the Wall Avenue Journal reported on Tuesday, citing folks accustomed to the matter.
Twitter didn’t instantly reply to a Reuters request for remark, whereas Musk couldn’t be reached for remark.
Reuters reported earlier this week that Musk is in talks with massive funding companies and excessive net-worth people about taking over extra financing for his $44 billion acquisition of Twitter and tying up much less of his wealth within the deal.
On April 25, Twitter’s board of administrators mentioned is accepted the Tesla CEO’s supply to purchase the corporate — bringing an finish to a weekslong saga and ushering in a brand new period for the struggling social-media platform.
Musk pays $54.20 per share for the corporate, which he has vowed to take personal. The deal is anticipated to shut later this yr, topic to situations together with the approval of Twitter shareholders and regulators
As reported by the Publish, Musk mentioned final month he has lined up $21 billion in money fairness from himself and different co-investors to make the bid for Twitter. Musk mentioned he additionally has organized $25.5 billion of dedicated debt financing via Morgan Stanley within the type of loans in opposition to Twitter itself and his private inventory.
Musk has additionally offered off a whopping $8.5 billion in Tesla inventory – however he insists that the remainder of his stake within the electrical automotive maker will stay untouched for now.