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The Twitter Masker Won't Buy Himself, 19 Investors Will Help Him

The Twitter Masker Won’t Buy Himself, 19 Investors Will Help Him

Larry Ellison, co-founder of Oracle, crypto exchange Binance, or investment firms Fidelity, Brookfield and Sequoia Capital, among others, has promised to provide funds to Musk. Saudi Prince Walid bin Talal, who has already invested in Twitter, promised to invest nearly 35 million shares to maintain the stake in the company. Musk has previously stated that he is negotiating with existing shareholders, including company founder Jack Dorsey.

Thanks to the investment promises obtained, Musk could reduce the so-called margin loan, which he took for the purchase of Twitter, from 12.5 billion to 6.25 billion dollars. In addition to the loan, the acquisition will finance $27.25 billion in stock and cash.

The richest man on the planet signed an agreement to buy Twitter for $44 billion (more than a trillion crowns) last month, but now it has not been approved by social network shareholders. If that happens, Musk will most likely be the new head of Twitter, according to previous statements.

Musk also said he plans to list Twitter socially on the stock exchange three years after buying it.

Elon Musk

Photo: Susan Walsh, CTK/AP

Paid version of Twitter

At the same time, the American businessman is flirting with the idea that he will bring some users to this social network. “Twitter will always be free for regular users, but there may be a modest cost for commercial or government users,” the American visionary said on Twitter.

Currently, this works through companies that pay exclusively for the ads you place on Twitter. But they no longer pay for their profiles, as they can post any contributions – even with an advertising personality. But that is exactly what could change in the near future.