Twitter discusses selling $13 billion in shares to pay off debts

However, when asked by a Twitter user if this information from the WSJ was true, the tycoon responded with a concise “no.”

This is not the first time that information about the Musk’s intention to seek new investment in the company that he bought last year, because in December the American economic press already announced that it had contacted several investors offering them titles at the same price he paid.

The WSJ points out this Wednesday that Paying off part of the multi-billion dollar accumulated debt would offer significant financial relief to Twitterwhich after its sale saw a sharp drop in revenue, largely due to the flight of advertisers unhappy with Musk’s management and his changes to the platform.

Last novemberthe businessman himself admitted that the company had suffered a massive drop in its turnover and that he was losing more than $4 million a day. At that time, Musk did not rule out the option of bankruptcyalthough he later offered more positive forecasts after cut thousands of jobs.

As part of the purchase transaction, Twitter took on about $13 billion in debtso you have to face large interest payments for years to come.

According to the WSJ, the most expensive part of that debt They are loans worth about US$3,000 million that have a particularly high interest rate and that has risen in recent months.

Twitter faces several financial difficulties: to its debt difficulties is added the legal actions initiated by the real estate companies to which it rents the Officesone of them manages the properties of the British crown, for lack of payment.

It is worth clarifying that Twitter shares have been frozen since October of last year when uncertainty broke out over the purchase of the company by the tycoon.