Elon Musk acquired Twitter: Why did Elon Musk buys twitter?

Elon Musk acquired Twitter: Why did Elon Musk buys twitter:

Why did Elon Musk buys twitter? Elon Musk,South African-born American industrial entrepreneur, told banks that agreed to help in funding his $44 billion amount of Twitter by cutting down the cost on their executives, etc. According to the people familiar with Twitter said. Yes it is true that Elon Musk acquired Twitter.

Elon Musk has made the pitch to the lenders. According to sources, he was trying to secure debt for the buyout days after submitting his offer to Twitter on April 14. His submission of bank commitments on April 21 wasthe main thing for Twitter’s board, which they accepted by saying his “best and final” offer.

Elon Musk managed to convince the banks that Twitter is producing enough cash flow to service the debt he took earlier. And at the end, he got $13 billion in loans against Twitter and $12.5 billion against Tesla stock. He agreed to pay his and another remaining amount to them. Elon Musk, on his way to buying Twitter

Who is Elon Musk

His full name is Elon Reeve Musk FRS. Elon is an entrepreneur, investor, and business magnate, whowas born on 28th June 1971 in South Africa. His mother was a very popular model and a dietitian and hailed from Canada. His father was an Electromechanical Engg, pilot, sailor, consultant, and property developer. Elon Musk has two siblings- one brother and a sister.

He is a very successful businessman and is an idol of most people. He has a very big fan following. His Electric cars are becoming the number one electronic car.

Elon Musk Carrier

Elon Musk is the founder, CEO, and CE at SpaceX (his rocket company). Elon is an early-stage investor, CEO, and Product Architect of Tesla, Inc (His EV). Elon is the founder of The Boring Company, and co-founder of the Neuralink and OpenAI too.

He owns appx 21% of Tesla but has pledged above half his stake as collateral for loans. Within weeks of reporting a 9.1% Twitter stake in April 2022, he declined a board seat and proposed a $43 billion hostile takeover of the company.

 

He grew up in South Africa (SA), and later he immigrated to Canada at age 17. He landed in the U.S. as a transfer student to the University of Pennsylvania for his higher studies. Recently also he announced that he wanted to make a company that can solve the traffic by making a system of underground tunnels. This was a really fantastic idea. He also tweeted once that the The Boring Company finds traffic tough to fix.

 

 

 

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