US entrepreneur Elon Musk is probably planning to sell some of his shares in SpaceX to finance a deal to buy Twitter, the New York Post reported on Monday, citing sources.
Musk plans to raise $44 billion to pay for the deal to buy Twitter, which he believes is too much money, according to the sources. A possible option would be to sell some shares of SpaceX. According to the source, the company plans to sell at $70 per share.
On Monday, Musk did not rule out the possibility of buying Twitter at a price below the previously announced $44 billion. On 25 April, Twitter executives said Musk would buy the company for $44 billion. According to the Securities and Exchange Commission, if the billionaire decided to terminate the agreement, he would have to pay the company a $1 billion fine. If Twitter initiated the termination, Musk would be compensated. The deadline for the final closing of the deal is set for 24 October.