Elon Musk is continuing his pursuit of Twitter. In an SEC filing [PDF] Thursday, Musk revealed that he has $46.5 billion in financing lined up to close the deal. The Tesla and SpaceX founder would cover $21 billion of the purchase price himself. A consortium of banks will loan him $12.5 billion against his shares of Tesla along with an additional $13 billion in financing.
Musk surprised just about everyone last week with an unsolicited offer of $43 billion for Twitter. The move came after he quietly purchased 9.2 percent of outstanding Twitter shares. He then rejected an offer to sit on the company's board in order to be able to buy even more shares.
Musk's vision for the social media site appears to be one largely unencumbered by moderation. "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe," Musk wrote to Twitter Chairman Bret Taylor last week. "I believe free speech is a societal imperative for a functioning democracy."
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.