Elon Musk’s team has reached out to investors to raise new funds for his struggling social media platform Twitter, one of the investors said.
Ross Gerber, president and CEO at Gerber Kawasaki Wealth & Investment Management, said that he was contacted by a Musk representative about offering more shares at the same price, $54.20, that Musk paid to take the company private in October.
Jared Birchall, the managing director of Elon Musk’s family office reached out to potential investors this week, news platform Semafor reported on Friday, citing two people familiar with the fundraising effort.
Twitter and Musk did not respond to requests for comments.
Twitter has seen advertisers flee amid worries about Musk’s approach to policing tweets, hitting revenues and its ability to pay interest on the $13 billion debt that Musk took on to buy the social media company.
Musk sold another $3.6 billion worth of shares in Tesla earlier this week, making it nearly $40 billion worth of shares in the electric-vehicle company sold this year.
Tesla shares on Friday posted their worst weekly loss since March 2020, with investors increasingly concerned about Musk being distracted by Twitter and the slowing global economy.
Elon Musk’s team seeks new funding for Twitter — investor
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Elon Musk’s team seeks new funding for Twitter — investor
- Twitter has seen advertisers flee amid worries about Musk’s approach to policing tweets
Foreign media group slams Israel for refusing to lift Gaza press ban
- Foreign Press Association expresses 'profound disappointment' with Israeli government’s response to a Supreme Court appeal
- Israel has barred foreign journalists from independently entering the devastated territory since the war started
JERUSALEM: An international media association on Tuesday criticized the Israeli government for maintaining its ban on unrestricted media access to Gaza, calling the move disappointing.
The government had told the Supreme Court in a submission late Sunday that the ban should remain in place, citing security risks in the Gaza Strip.
The submission was in response to a petition filed by the Foreign Press Association (FPA) — which represents hundreds of journalists in Israel and Palestinian territories — seeking immediate and unrestricted access for foreign journalists to the Gaza Strip.
“The Foreign Press Association expresses its profound disappointment with the Israeli government’s latest response to our appeal for full and free access to the Gaza Strip,” the association said on Tuesday.
“Instead of presenting a plan for allowing journalists into Gaza independently and letting us work alongside our brave Palestinian colleagues, the government has decided once again to lock us out” despite the ceasefire in the territory, it added.
Since the outbreak of the Gaza war in October 2023, triggered by an attack on Israel by the Palestinian militant group Hamas, the government has barred foreign journalists from independently entering the devastated territory.
Instead, Israel has allowed only a limited number of reporters to enter Gaza on a case-by-case basis, embedded with its military inside the blockaded Palestinian territory.
The FPA filed its petition in 2024, after which the court granted the government several extensions to submit its response.
Last month, however, the court set January 4 as a final deadline for the government to present a plan for allowing media access to Gaza.
In its submission, the government maintained that the ban should remain in place.
“This is for security reasons, based on the position of the defense establishment, which maintains that a security risk associated with such entry still exists,” the government submission said.
The government also said that the search for the remains of the last hostage held in Gaza was ongoing, suggesting that allowing journalists in at this stage could hinder the operation.
The remains of Ran Gvili, whose body was taken to Gaza after he was killed during Hamas’s 2023 attack, have still not been recovered despite the ceasefire.
The FPA said it planned to submit a “robust response” to the court, and expressed hope the “judges will put an end to this charade.”
“The FPA is confident that the court will provide justice in light of the continuous infringement of the fundamental principles of freedom of speech, the public’s right to know and free press,” the association added.
The Supreme Court is expected to issue a ruling on the matter, though it is unclear when a decision will be handed down.
An AFP journalist sits on the board of the FPA.
