Elon Musk is telling Twitter advertisers he is buying the platform to 'help humanity' and doesn't want it to become a 'free-for-all hellscape' where anything can be said with no consequences.
that Musk told prospective investors that he plans to cut three quarters of Twitter's 7,500 workers when he becomes owner of the company. The newspaper cited documents and unnamed sources familiar with the deliberation. Several hours after posting his sink video, Musk tweeted that he was meeting"a lot of One of Musk's biggest obstacles to closing the deal was keeping in place A group of banks, including Morgan Stanley and Bank of America, signed on earlier this year to loan $12.
Less clear is what's happening with the billions of dollars pledged to Musk by investors who would get ownership stakes in Twitter. Musk's original slate of equity partners included an array of partners ranging from the billionaire's tech world friends with like-minded ideas about Twitter's future, such as Oracle co-founder Larry Ellison, to funds controlled by Middle Eastern royalty.
The more equity investors kick in for the deal, the less Musk has to pay on his own. Most of his wealth is tied up in shares of Tesla, the electric car company that he runs. Since April, he has sold more than $15 billion worth of Tesla stock, presumably to pay his share. More sales could be coming. Musk, 51, has shared few concrete details about his plans for the social media platform. While he's touted free speech and derided spam bots since agreeing to buy the company in April, what he actually wants to do about either remains a mystery.
Technology analysts have speculated that Musk wants to use Twitter to help create an"everything app" similar to China's WeChat service, which allows users to do video chats, message, stream video, scan bar codes and make payments.© 2022 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.
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