Elon Musk angling to raise massive pile of cash in hostile Twitter takeover

Elon Musk’s attempt to fully own Twitter might be up in the air after he met stiff resistance from those who fear the platform being truly one of free speech, but that isn’t stopping the billionaire genius from deploying plan B.

According to Fox Business, after the Twitter board adopted a “poison pill” tactic to prevent Musk from taking over with what was otherwise a generous offer, the Tesla and SpaceX founder is already working on a new option, which will include using a significant amount of his own cash reserves to initiate a hostile takeover. 

The plan will reportedly be executed withing a 10-day period, meaning sometime next week it will likely be clear whether or not Musk was successful in his bid.

“The estimated $10 to $15 billion Musk is reportedly willing to invest is well above his roughly $3.4 billion stake in the company,” Fox noted, referencing Musk’s roughly 9% share in the company that he already owns.

Other people’s cash

According to the New York Post, though Musk is literally the richest person in the world — at a net worth of some $270 billion — he still needs to come up with an unprecedented amount of liquid cash if he has any hope of winning the fight to take Twitter.

Reportedly, Musk is attempting to finance the purchase “in a complex deal that raises debt against both the company and possibly his own stock, as well as a giant cash equity infusion from co-investors,” the Post reported.

The outlet added: “The co-investors will reportedly finance a hostile tender directly to Twitter shareholders, which happens when an outside investor’s ambitions to take over another company do not have management’s approval or blessing. ”

The co-investors will reportedly have a large equity share combined, but Musk will remain the single largest shareholder, should the deal succeed.

While some report that Musk might be facing headwinds in finding investors to back him, however, the good news for Musk is that he’s Elon Musk, and there likely isn’t a major bank or fund interested in getting on Musk’s bad side, especially for future endeavors.

Cryptic tweets

In recent days, Musk, known for his interesting and news-making tweets, tweeted what many believe could be a hint that he will soon make the tender offer to take over the social media company.

Social media users are guessing that the tweet is a reference to F. Scott Fitzgerald’s Tender is the Night.

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