Elon Musk is taking another step towards his Twitter acquisition aspirations, now seeking the support of Wall Street financial partners for his $43 billion proposition to purchase the social media platform.
Someone familiar with the discussions says that Musk and his advisers are looking into debt financing with various partners. However, the insider said that raising equity for the offer has not been discussed with other firms.
While the richest person in the world seeking debt financing may seem paradoxical, much of his $261 billion fortune appears to be wrapped in Tesla’s stock. Still, Musk could theoretically sell some of those shares in order to fund the acquisition.
In the meantime, Wall Street is divided on whether they will support Musk in this endeavor.
Organizations that are in talks to help back Musk include Morgan Stanley and Apollo Global Management. However, Blackstone, Brookfield Asset Management, and Vista Equity Partners have already rejected getting involved according to insiders.