Elon Musk is the richest person in the world, but he’s scrambling to assemble a buyout bid for Twitter using other people’s cash.
tycoon — who is worth $270 billion, according to Forbes — is angling to finance his $43 billion bid to acquire Twitter
in a complex deal that raises debt against both the company and possibly his own stock, as well as a giant cash equity infusion from co-investors, The Post has learned.
Still, insiders say Musk appears to be facing hurdles in raising the money. In addition to doubts about whether Twitter is worth the $54.20 a share that Musk offered on Thursday, sources said some investors appear skittish over his pattern of unpredictable behavior and taste for controversy.
Musk himself is willing to invest between $10 billion and $15 billion of his own cash to take Twitter private, two sources close to the situation said. That’s up from the current 9.1% stake in the company he revealed on April 4, which is worth about $3.4 billion.
Musk may also be willing to borrow against his current stake if necessary, a move that could possibly raise several billion additional dollars, sources said.
“The co-investors will combined have more equity than Musk but he will be the biggest single holder,” one of the sources said.
Nevertheless, it’s mainly outside financing that will carry the bid for Musk, who has tapped Morgan Stanley
to raise another $10 billion in debt against Twitter in the manner of a traditional leveraged buyout, the sources said.
As first reported by The Post on Friday, however, the bulk of the money — about $20 billion, according to sources — will come from co-investors who will finance a hostile tender offer directly to Twitter shareholders, sources said. Musk hinted at the hostile approach in a cryptic tweet over the weekend that quoted Elvis Presley’s 1956 hit “Love Me…