Illustration by Kristen Radtke / The Verge; Photo: Getty Images
Elon Musk is trying to cut back on costly unsecured loans tied to his $44 billion Twitter purchase by selling $3 billion worth of Twitter shares, according to a report from The Wall Street Journal. But despite what Musk has said recently about his “track record” of raising money, the paper claims investors aren’t immediately getting in line to grab the pieces of Twitter he’s offering.
Sources tell the WSJ that in December, the billionaire’s team sent out emails to potential investors trying to raise $3 billion to pay off “an unsecured portion” of Twitter’s $13 billion debt with the highest interest rate. The WSJ reports some backers “balked at the terms” due to the state of Twitter’s finances but also notes it couldn’t determine the…
