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
Hezbollah says Israeli strike killed Al-Manar TV presenter in southern Lebanon
- The Israeli military said later on Monday that Al-Din was a Hezbollah militant who recently worked to rehabilitate the group’s artillery capabilities in southern Lebanon
The Lebanese armed group Hezbollah said on Monday that an Israeli strike in the country’s south killed TV presenter Ali Nour Al-Din, who worked for the group’s affiliated Al-Manar television station.
The group said the killing portends “the danger of Israel’s extended escalations (in Lebanon) to include the media community.”
The Israeli military said later on Monday that Al-Din was a Hezbollah militant who recently worked to rehabilitate the group’s artillery capabilities in southern Lebanon.
Israel and Lebanon agreed to a US-brokered ceasefire in 2024 to end more than a year of fighting between Israel and Hezbollah, which culminated in Israeli strikes that severely weakened the Iran-backed militant group. Since then, the sides have traded accusations over ceasefire violations.
Lebanon has faced growing pressure from the US and Israel to disarm Hezbollah. The group’s leaders fear that Israel could dramatically escalate strikes across the battered country, aiming to push the Lebanese government for quicker action to confiscate Hezbollah’s arsenal.
