Newspaper: Musk Uses SpaceX Stake to Pay for Twitter Deal

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Billionaire Elon Musk may sell part of his stake in space company SpaceX to finance the acquisition of social media company Twitter.

 

The American newspaper New York Post states, based on insiders, that shares of SpaceX will be sold this week via a so-called private placement. Musk would be one of the sellers now that he is raising funds to finance the acquisition of Twitter.

According to the newspaper, this concerns the sale of existing shares and not the placement of new securities. SpaceX could ask about $70 per share. This would cost the company a price tag of 125 billion dollars. In August last year, SpaceX was valued at $100 billion after a new financing round.

Musk previously made an offer on Twitter of $44 billion, but he said the acquisition is “temporarily paused” before the weekend. He first wants more clarity about the number of spam accounts on Twitter. Possibly he will take over Twitter for a lower price. Musk questioned Twitter’s ability to estimate how many accounts are spam or fake.

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