Recent reports have stated that Elon Musk’s team are looking out for new fresh investors to raise fund for Twitter, the social media platform which has been seen struggling lately.
Ross Gerber who is the President and CEO at Gerber Kawasaki Wealth and Investment Management said that he was contacted by Musk’s team, offering him more shares at the same price of $54.20, the price that Elon Musk paid to buy the company in October.
Jared Birchall who is the managing director of Musk’s family office, reached out to some investors this week, reported by platform Semfor on Friday.
Although Musk and Twitter were not seen responding to any of the comments.
Twitter has seen investors flee with it bleeding red ink because of the ongoing Musk circus show, it is not looking good for Twitter says Dan Ives in an email.
Elon musk also sold shares worth of $3.6 billion in Tesla earlier this week, making it a total of $40 billion worth of shares in the electrical vehicle company sold this year.
Tesla shares posted their worst weekly loss since March 2020 on Friday. Investors showed their increasing concern about Elon Musk being distracted by Twitter and the ongoing issues in the app.