Elon Musk and Twitter Inc. reached an agreement for the world’s richest man to buy the social networking platform for $44 billion, resolving the pressing question of whether the company’s board would consent to the leveraged buyout deal.
On Musk’s side, though, there remains a mystery: How is he going to cover the $21 billion equity portion of the transaction that he’s personally guaranteed?
Musk, 50, has outlined the $13 billion in bank financing secured by the social-media company and the $12.5 billion backed by a pledge of some of his $170 billion Tesla Inc. stake. But he’s been short on details about how he’ll fund the remainder.
