Elon Musk says he can ‘technically afford’ to buy Twitter outright. But a purchase that big is complicated

Telsa chief executive Elon Musk has offered to buy Twitter for about $US43 billion ($58 billion) just days after turning down an offer to join the social media company’s board. He already owns 9 per cent of the company, but now wants to own it outright. So will his plan succeed? What’s Elon Musk’s net worth? Nearly $265 billion — and according to Forbes that makes him the world’s wealthiest man. But he doesn’t have that much in his bank account. Most of his wealth is tied up in Telsa and SpaceX stock so it’s unclear how much cash he has. During an on-stage interview at the TED 2022 conference, Mr Musk said he had “sufficient assets” to complete the Twitter deal, but he was vague about the details. “I could technically afford it,” he said. How is he planning on paying for it then? He hasn’t said. Documents filed with the offer say it is subject to “completion of anticipated financing”. Mr Musk could sell some of his Tesla shares to raise money — which could hurt Tesla’s share price — or borrow against his stock holdings. Telsa allows executive officers to use shares as collateral for loans but it limits the borrowing to 25 per cent of… Read full this story

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