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Elon Musk will pay more money out of his own pocket for Twitter takeover

New Report: Elon Musk To Take Over Twitter For $43 Billion

Based on new information, which has emerged from a document filed with the Securities and Exchange Commission on May 24, it appears that Elon Musk is personally setting aside $33.5 billion for the Twitter acquisition.

The whole soap opera surrounding Elon Musk and Twitter has been going on for some time. In mid-April, the board of Twitter tried to stop the takeover by initiating a so-called ‘poison pill’. This would make it impossible for Musk to buy a majority in the company.

$44 Billion Agreement

Finally, on April 25, Musk reached an agreement with Twitter for a total amount of $ 44 billion. This included a personal commitment of $12.5 billion from Musk. On May 4, Musk already increased this commitment to $ 27.25 billion because he managed to collect money in all kinds of ways. That commitment now stands at $33.5 billion.

However, the deal itself is on hold for the time being because there are doubts about the amount of real users on the platform. Musk says he will not proceed with the sale until there is evidence that less than 5 percent of users are fake profiles. As a result, there were rumors that the deal might not go through, but today’s news shows that Musk is still driven to take over the platform.

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