JAKARTA - The Elon Musk team has reached out to investors to raise new funds for its struggling social media platform, Twitter. The statement came from one of the investors.
Ross Gerber, president and CEO at Gerber Kawasaki Wealth & Investment Management, told Reuters he was contacted by Musk representatives offering more shares at the same price, $54.20, which Musk paid to make the company private in October.
According to news platform Semafor on Friday, December 16, Jared Birchall, managing director of Elon Musk's family office contacted potential investors this week, citing two people familiar with fundraising efforts.
Twitter and Musk did not respond to a request for comment from Reuters on the report.
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Twitter has seen advertisers escape amid concerns about Musk's approach to overseeing tweets, hitting revenue and his ability to pay interest on the $13 billion debt Musk took to buy social media companies.
Musk resells $ 3.6 billion in shares in Tesla earlier this week, making it nearly $ 40 billion in shares in electric vehicle companies sold this year.
Tesla shares on Friday posted their worst weekly losses since March 2020, as investors are increasingly concerned about Musk being disrupted by Twitter and the slowing global economy.
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