Twitter Makes First Interest Payment On Elon Musk's Debt

January 31, 2023 Story - Divya Sinha

As per the Bloomberg News report, Twitter has made its first interest payment on Elon Musk’s buyout debt.

[{"selector":"#anim-057d1b6f-3dff-4cc5-8181-b790e9741414","keyframes":{"transform":["translate3d(-90.21527%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c49ac6d2-db55-4121-8eba-ac0ca413df6c","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b0e9e7de-748b-467d-9d6b-27f1655f3a91","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Last year Elon Musk took around $12.5 billion in debt to acquire the micro-blogging website.

[{"selector":"#anim-d4a5fbc9-3cbe-498f-a678-d889edd48c32","keyframes":{"transform":["translate3d(-89.03509%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4caca333-bb11-45d7-9be5-e82a6c92a74f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b3227172-c9c6-4842-9993-769e003b915b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

According to reports, Twitter paid a consortium of seven banks which is led by Morgan Stanley.

[{"selector":"#anim-85b57f74-49bb-434f-9815-6cbc426e6958","keyframes":{"transform":["translate3d(-84.76954%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-29566751-83f6-4102-ac6c-065e445e8776","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9cdb10bf-5e66-4c06-a132-56c62bc6dc40","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Twitter, Musk and Morgan Stanley did not responded to Reuters on the same.

[{"selector":"#anim-5b62c648-b01e-42d1-a440-0be8a6943c82","keyframes":{"transform":["translate3d(-88.86463%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-47757af3-d529-466a-83f9-7ffa02dae6fa","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af578998-c8cd-4bcf-8018-b9bcade77819","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

In addition to borrowing money from a group of banks, Elon Musk has sold shares of Tesla to pay for his $44 billion acquisition of Twitter.

[{"selector":"#anim-17194ea3-5b25-43bc-957e-3b2423aaf767","keyframes":{"transform":["translate3d(-89.22414%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-48698f01-f51a-4a06-a243-d5f9232bd498","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d116048b-921f-452b-bd31-200c7b1b1321","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Since Musk acquired Twitter, the company has taken several steps, including laying off thousands of employees, pushing for a "hardcore" work culture and many more.