Another part of the total sum of about 42 billion euros is borrowed from banks. Sources tell Reuters news agency that Musk has shared some of his plans with the banks to get the money.
For example, he said that the rewards for the Twitter top could be reduced and that he will develop new ways to monetize tweets. According to the anonymous sources, those promises were not very concrete. The financing deal with the banks was essential for the Twitter summit to accept the offer.
Tesla’s share price fell a day after the agreement between Twitter and Musk was announced the hardest since September 2020. On that day, Musk already made a large part of his sales. He subsequently divested more than 5 million shares. The CEO, meanwhile, tweeted that he had no intention of selling any more shares “after today”.