Elon Musk News: Elon Musk has made a deal to buy Twitter. As soon as this deal is complete, musk will get Twitter for $ 44 billion. For this he has also taken a loan from the bank. Let us know what Elon Musk has said for the loan from the bank.
Musk has agreed to purchase Tumbler for $44 billion. It will be of Elon Musk (Twitter will be laid off) as soon as this deal is complete. There have been new developments in this matter. According to a Reuters report, Elon Musk will cut company executive and board pay to reduce Twitter’s cost.
Three people related to the matter have given this information. According to the report, Musk had given this information in a conversation with Banks to buy it.
Musk made an offer of $ 44 billion to buy on April 14. In fact, Musk had to persuade Banks that the company could produce as much cash flow as he needed to buy Twitter.
How much loan did he get from the bank?
At the end of this conversation, Musk got a loan of $ 13 billion from the bank (Twitter will be laid off) in the name of and a margin loan of $ 12.5 billion on his Tesla stock. Anything left over Musk will pay himself.
According to the report, Musk has put his vision in front of Banks more than firm commitment in the pitch. The amount of his reduction after the deal is done is not known. The plan that he had placed in front of the bank did not have much details about it.
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What is Musk’s master plan?
Musk had said in a tweet about a cut in the salary of the Twitter Board of Directors. He had told that this would save about three million dollars. At the same time, Twitter’s stock-based compensation has increased significantlyin the last year. In the year 2021, the value of the company’s stock-based compensation was $ 63 million, which is 33 percent more than the year 2020.
In a conversation with Banks, Musk also raised the issue of Twitter’s gross margin, which is much lower than Meta’s Facebook. Musk’s representative has not commented on the matter. Earlier on Thursday, Bloomberg reported that Musk had specifically mentioned job cuts in a conversation with Banks.