Elon Musk Reportedly Looking For New Investors

December 17, 2022

Story: Divya Sinha

According to a Semafor report, Elon Musk's family office manager, Jared Birchall, has "reached out to potential investors this week.

Birchall is offering Twitter shares to investors at $54.20 per share, as per the Semafor report.

This is exactly the same amount Musk paid to buy the company for $44 billion in October.

The reports also mentions a Tesla investor Ross Gerber, who invested less than $1 million in Musk's initial Twitter acquisition, confirmed that on Thursday he had been contacted about another $44 billion funding round.

In November, the company saw a "significant drop in revenue" as advertisers withdrew their ads.

Musk has taken several steps, including laying off thousands of employees, pushing for a "hardcore" work culture and many more since he took over. 

Recently, Twitter has also rolled out a new policy that prohibits people from sharing other people's locations.