Musk to provide $6.25 billion more in equity to fund Twitter deal

Elon Musk said on Wednesday he will secure an additional $6.25 billion in equity financing to fund the $44-billion offer for Twitter Inc, reducing the billionaire’s margin loan to zero and signaling he is working to complete the deal.

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The world’s richest man and Tesla Inc’s top boss is also in talks with shareholders, including Jack Dorsey, for additional financing commitments to fund the deal, Musk said in a regulatory filing.

Musk originally took a $12.5-billion margin loan against his Tesla stock to help fund his purchase of Twitter. But he reduced it to $6.25 billion earlier this month after bringing in co-investors.

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