Elon Musk’s team has reached out to investors to raise new funding for his struggling social media platform Twitter, one of the investors said.
Ross Gerber, president and CEO of Gerber Kawasaki Wealth and Investment Management, told JEE News he was approached by a Musk representative about offering more shares at the same price, $54.20, that Musk took the company private in October. Paid to take.
Jared Birchall, managing director of Elon Musk’s family office, approached potential investors this week, news platform Semaphore reported Friday, citing two people familiar with the fundraising efforts.
Twitter and Musk did not respond to JEE News requests for comment.
Twitter has seen advertisers flee amid concerns about Musk’s approach to policing tweets, hurt revenue and its ability to pay interest on the $13 billion in debt Musk took to buy the social media company. was taken for
Musk sold another $3.6 billion in Tesla shares earlier this week, bringing the electric vehicle company’s stake to about $40 billion in sales this year.
Tesla shares on Friday posted their worst weekly loss since March 2020, with investors growing concerned about Musk being distracted by Twitter and the slowing global economy.
