What does the future of Twitter look like? More and more investors support Musk

A recently revised Schedule 13D model filed with the Securities and Exchange Commission shows that a consortium of 19 investors, including Sequoia Capital, Andersen Horowitz and Binance, valued new Twitter CEO Elon Musk at $44 million to purchase the social media platform.

The development also comes as Musk increased his funding commitment to $27.25 billion, according to a Reuters report. It also reduced Morgan Stanley’s margin loan from $12.5 billion to $6.25 billion.

It was reported that the list of invested capital and funds committed about $7.1 billion for the deal. The largest pledge comes from the $1 billion Lawrence J. Ellison Refundable Fund. Oracle co-founder Larry Ellison was also appointed to Tesla’s advisory board in 2018.

Source: Reuters

Saudi Prince Al-Waleed bin Talal, who preceded He was against the Twitter dealis now willing to contribute about 35 million shares (about $1.9 billion) to the acquisition.

Also Binance among supporters

Binance also provided $500 million to fund the offer. However, Binance CEO Changpeng Zhao also expressed his desire to combine Twitter and Web3 over the course of the deal.

“We hope that we can help bring social media and Web3 together and expand the use and application of cryptographic and blockchain technology,” Czechoslovakia said in a recent statement. In a previous interview with Bloomberg TV, CZ noted that Binance will invest in any “strong company with existing users and existing models” that will support additional monetization models using Web3, blockchain and crypto.

What are the upcoming changes to the Twitter world?

With the acquisition expected to close later this year, a change of leadership is also expected from Twitter. Sources close to Twitter told Reuters on Thursday that Musk is expected to take over as interim CEO once the deal is secured. He has replaced the current Twitter CEO, Parag Agrawal.

Musk is currently proposing a number of changes to the platform. This includes introducing a “nominal fee” for commercial / government users.

Advertisers on Twitter are reported to be keeping a close eye on the company. They are thinking about how to develop it further with the new owner. Although there are no advertising losses on the platform yet, advertisers are curiously waiting for updates.

“Musk is like the next Christmas spirit that hangs over everything,” says Mark DiMassimo, founder of advertising agency DiMassimo Goldstein. Refers to the platform’s advertising offerings. “Whatever Twitter says, all we really want to know is what it will be like in the future.”

Can Musk undo the deal?

Musk is willing to stop modifying content and allow “absolute” freedom of expression on the platform once he takes ownership. However, there are other options.

What if he backs out of the deal?

If the Tesla boss decides to withdraw from the current deal, he will owe Twitter a $1 billion transfer fee, according to Reuters. In addition, the platform can file a lawsuit against Musk for violating applicable terms of contract.

Not giving an opinion

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