When Elon Musk offered to buy the entirety of Twitter last week, many were surprised the Tesla CEO could even afford to do so. Though he’s technically the world’s richest man, Musk speaks often about how he’s cash-poor, with the vast majority of his wealth tied up in stock options. How, then, we wondered, would Musk even be able to find $43 billion in liquid funds to take over the social network?
In a new SEC filing published today, Musk said he had financing commitments for a total of $46.5 billion, which would give him plenty of room to buy up every last crumb of Twitter stock. About $25.5 billion of those commitments are in debt financing and loans against Twitter stock, while the other $21 billion is in equity financing. Morgan Stanley, Bank of America, and Barclays are major signees to Musk’s financial plan.
