Big news is coming from the microblogging site Twitter. Elon Musk, CEO of Tesla, the world’s richest man and electric car company, said the deal to acquire Twitter had been temporarily suspended. Last month, Musk announced it would buy Twitter for 44 billion. Elon Musk tweeted this information. Musk said the deal has been put on hold until spam or fake accounts account for less than 5 percent of the microblogging site’s total userbase. Let me tell you that to raise Twitter, it has raised 7 7 billion, or Rs 50,000 crore, from 19 investors.
Twitter deal temporarily postponed
Twitter deal temporarily on hold pending details supporting calculation that spam / fake accounts do indeed represent less than 5% of usershttps: //t.co/Y2t0QMuuyn
– Elon Musk (lonelonmusk) May 13, 2022
Dismissal of two employees
The Twitter board has been rocked since Elon Musk bought Twitter. Two employees have been fired from Twitter. The two sacked employees include Kewan Beckor, Twitter’s general manager, and Bruce Folk, the company’s revenue and product head.
Raised a fund of Rs 50,000 crore
Musk has managed to raise more than Rs 50,000 crore from a group of investors. The fund has been raised from a total of 19 investors. Oracle co-founder Larry Ellison is among the investors who will be part of Musk’s investment proposal.
In addition, Saudi Crown Prince Alwaleed bin Talal bin Abdul Aziz Al Saud has pledged ખરીદ 35 million to buy shares of Twitter in support of Musk.
44 billion deal
The deal to buy Twitter is worth 44 billion. A 13 13 billion loan has been arranged in the name of Twitter to complete the deal, a margin loan of .5 12.5 billion has been arranged on Tesla shares, the rest of which Musk will pay out of his own pocket.
The 13 13 billion debt is 7 times more than Twitter’s projected EBITDA for the year 2022. This is the reason why some banks have only participated in giving margin loans.