‘Interesting’ plans: Tesla bull Ron Baron: Musk got a deal with Twitter |  information

‘Interesting’ plans: Tesla bull Ron Baron: Musk got a deal with Twitter | information

Elon Musk gets billions more from investors through the Twitter agreement
The subsidiary of Baron Capital Bamco is one of the donors
Tesla shareholder Ron Baron sees the Twitter purchase as a good deal

In early April, it was announced that Tesla CEO Elon Musk had become the largest shareholder of Twitter. Musk had a 9.2 percent stake, Twitter said. The next day it was announced that Tesla CEO would also move to the Twitter board of directors. A few days later came a change: Musk no longer wanted to be a member of the board of directors. At the time, there were already rumors that the tech billionaire would take over the company, because Musk’s decision to relinquish his position on the board of directors meant that there were no further restrictions on expanding his Twitter shares. The allegation was confirmed in mid-April. Tesla boss announced an offer to buy all the Twitter shares and said he wanted to cancel the instant messaging service after grabbing. Less than two weeks later, Twitter opposition was broken and the board of directors approved the deal.

Ron Baron: Musk did a great deal on Twitter

One of Tesla’s major shareholders and CEO of Baron Capital, Ron Baron, previously ignored Musk’s initial investment of nearly 9 percent on Twitter and the board of the board involved, as CNBC reports, describing it as “small” for a man, which is. worth several hundred billion dollars. However, after Musk changed direction and chose to take over the company instead of a board, Baron also expressed interest in Musk’s plan.

In an interview with CNBC, he told the presenter that Elon Musk had done a good job with his Twitter purchase. “I expect to return 2-3 times or more in the next 4-5 years if I succeed,” reports CNBC Baron. “It’s really a cheap purchase price, because the business is doing very badly. It’s really very cheap and it would remain that way if Musk did not offer to take it. In my opinion,” said a Tesla shareholder.

Bamco one of the supporters of the Twitter program

Meanwhile, according to CNBC, it was revealed that Baron Capital subsidiary Bamco Musk had donated $ 100 million equally to support its Twitter purchase. As reported by the German News Agency, according to the US stock market version, Musk earned a total of more than $ 7 billion for his intended purchase of $ 44 billion from an entire group of investors. In addition to Bamco, donors also include Oracle co-founder Larry Ellison, Sequoia’s joint venture capital company and Binance.

In addition, according to dpa, Tesla CEO had already set up a $ 46.5 billion funding system for Twitter purchases with the help of banks such as Morgan Stanley. Of these, however, $ 25.5 billion is loans, some of which are also secured by shares of Musk’s Tesla. Musk wants to raise $ 27.25 billion of his own to fund Twitter. Musk may have contributed part of this to the sale of a large Tesla stock package in late April. The technology billionaire sold approximately 9.6 million shares of Tesla worth approximately $ 8.4 billion, according to Securities and Exchange Commission (SEC) documents.

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