Musk plans to sell SpaceX shares to be able to pay for Twitter deal

  • May 17, 2022
Musk plans to sell SpaceX shares to be able to pay for Twitter deal

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.

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