There's no money? Musk uses "original price" to find new investors for Twitter

Beijing, Dec. 17 (Xinhua) as users revolt, advertisers flee and debt repayment is imminent, the managing director of the Elon Musk family office is looking for new equity investors for Twitter, according to people familiar with the matter.

Mr Musk's financial housekeeper, Jared Jared Birchall, approached potential investors this week to sell Twitter shares at $54.20 a share, the same price Mr Musk paid when he privatised Twitter in October, according to people familiar with the matter. " In recent weeks, we have received a large number of unsolicited requests to invest in Twitter, "according to a copy of the financing recommendation." therefore, we are pleased to announce a follow-up equity offering of common shares at the original price and terms, with the goal of ending by the end of the year. "

Tesla investor Ross Gobber (Ross Gerber) invested less than $1 million in Musk's initial acquisition of Twitter. He confirmed that he was contacted Thursday night to raise another round of financing for Twitter at a valuation of $44 billion. Gobber said he was considering whether to invest, but wanted to know more about the plan. "people can say he created value on Twitter, or he destroyed it. It's hard to say yet." He said.

The Musk acquisition left Twitter with $13 billion in debt and will pay about $1 billion in interest a year, more than the company generated last year. And that was before advertisers were scared off by Musk's almost unscrupulous way of regulating content. For Mr Musk, requiring investors to pay the full price of an asset whose value is rapidly collapsing would be a difficult sell. Musk may have ideas to save Twitter and clean up social media, but the outlook is not good.