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Elon Musk’s team seeks recent investors for Twitter: report


The managing director of Elon Musk’s family office is looking for recent equity investors for Twitter, news platform Semafor reported on Friday, citing two people accustomed to the fundraising effort.

Musk’s money manager, Jared Birchall, reached out to potential investors this week, offering shares of Twitter at the identical price, $54.20, that Musk paid to take the corporate private in October, based on the report.

Twitter and Musk didn’t immediately reply to Reuters requests for comments.

Musk sold one other $3.6 billion value of shares in Tesla earlier this week, making it nearly $40 billion value of shares within the electric-vehicle company sold this 12 months.

The sale is the second big chunk of Tesla stock the billionaire has cashed out since his $44 billion purchase of Twitter in October, despite saying in April that he was done selling the electric-vehicle company’s shares.

Meanwhile, Twitter has seen advertisers flee amid worries about Musk’s approach to policing tweets, hitting revenues and its ability to pay interest on the $13 billion debt that Musk took on to purchase the social media company.

Ross Gerber, a Tesla investor who said he put lower than $1 million in Musk’s original takeover of Twitter, confirmed that he was contacted Thursday evening about one other funding round, Semafor reported.

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