According to recent evidence, Tesla CEO Elon Musk will personally invest $33.5 billion in his $44 billion Twitter takeover.
According to a filing with the Securities and Exchange Commission (SEC) dated May 24, Musk plans to increase his bid for Twitter to $33.5 billion.
For quite some time, there has been an attempt at a buyout. In mid-April, Twitter attempted to stymie Musk’s acquisition with a “poison pill” contract, but by April 25, Musk had signed a $44 billion deal with Twitter, which included a $12.5 billion personal commitment.
Musk’s commitment was then upped to $27.25 billion on May 4 after he gathered funding from a variety of other sources.
The purchase has been put on hold since Musk has stated that he will not proceed with the takeover until it is proven that less than 5% of Twitter’s users are spambots or phony accounts. Despite this, today’s story suggests Musk is still interested in purchasing Twitter.