Elon Musk.Carina Johansen/Getty Images
According to Semafor, Musk’s family office is seeking new investors for Twitter. New shares will be sold at $54.20.
The platform is losing users in large numbers. The platform is losing key advertisers. The bills keep piling up.
The company is now looking for new investors. Semafor reports that Jared Birchall (manager for Elon Musk’s family office) “reach out to potential investors this past week.”
Semafor reported that Birchall was offering shares of Twitter to investors at $54.20 per unit. This is the same price Musk paid for his $44 billion acquisition of Twitter in October.
He’s made many changes since then, including revamping Twitter Blue, which is the platform’s subscription tier. According to the New York Times, he’s considering not paying severance and has laid off large numbers of employees. He has tried to set strict guidelines for working from home.
Musk built bedrooms at the company’s San Francisco headquarters in early December to support his plan for a more “hardcore” culture at Twitter. Musk believes that employees should work long hours and not just during the day.
Business Insider has the original article.
—————————————————————————————————————————————
By: lvaranasi@insider.com (Lakshmi Varanasi)
Title: Elon Musk is reportedly seeking investors for Twitter at $54.20 a share — the same price he paid for it
Sourced From: www.businessinsider.com/musk-seeking-investors-for-twitter-at-5420-a-share-2022-12
Published Date: Sat, 17 Dec 2022 00:08:37 +0000
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