Elon Musk’s team fishes for new investors into Twitter as advertisers flee: Report

Elon Musk’s team is hunting for new investors for Twitter, reported news platform Semafor on Friday (December 16). According to the report, Jared Birchall, Musk’s money manager reached out to potential investors. They have been offered shares of Twitter at the same price Musk paid while acquiring the company (USD 54.20).

There was no immediate comment from Twitter or Musk.

The social media platform has seen advertisers flee as worries mount about Musk’s approach to policing tweets. This has hit Twitter’s revenues and its ability to pay interest on the $13 billion debt that Musk took on to buy the company.

Ross Gerber, a Tesla investor who said he put less than $1 million in Musk’s original takeover of Twitter, confirmed that he was contacted Thursday evening about another funding round, Semafor reported.

Twitter is grabbing headlines almost every day. Musk has attracted global criticism over the manner in which the ‘doxxing’ of his jet was handled. Twitter suspended accounts of several journalists who wrote about the issue. This hasn’t gone down well with many countries.

Officials from France, Germany, Britain and the European Union condemned the suspensions, with some saying the platform was jeopardizing press freedom.

The episode, which one well-known security researcher labeled the “Thursday Night Massacre”, is being regarded by critics as fresh evidence of the billionaire, who considers himself a “free speech absolutist,” eliminating speech and users he personally dislikes.

(With inputs from agencies)

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