Mirae Group from South Korea Disburses IDR 3.2 Trillion to Help Elon Musk Buy Twitter

JAKARTA - South Korea's Mirae Asset Financial Group plans to give around 300 billion Korean won (IDR 3.2 trillion) to help Elon Musk in financing the 44 billion (IDR 678.7 trillion) purchase of Twitter Inc. This is known to a source close to the company told Reuters on Monday, October 24.

The deal with Mirae is expected to be finalized in the coming days before Twitter's closing deadline of October 28, the source added.

"Mirae Asset earlier this year invested in Musk's rocket and satellite company SpaceX," the source told Reuters.

It's a shame that Musk and Mirae Asset's attorneys declined to comment on the report. Meanwhile, the Korea Economic Daily previously reported on Mirae Asset's investment plan for Twitter.

Analysts say Musk needs to attract more equity investors to finance the Twitter buyout and avoid further selling of his stake in electric car maker Tesla.

Earlier this month, a Delaware judge gave the SpaceX CEO until October 28 to close his takeover of the social media platform.

Tesla investors fear the billionaire may sell more of his Tesla stake to finance the deal, which is weighing on his stock.