Elon Musk Receives Significant Bank Funding in the Twitter Deal

By: Reananda Hidayat Permono

Completed Master Degree from Curtin University, Perth, Australia.

Finally, billionaire Elon Musk, the founder of Tesla and SpaceX, completed his $44 billion Twitter deal on social media this week.

Later on, Musk created a significant impact by firing Twitter CEO Parag Agrawal and other senior leaders.

After announcing his plan to buy Twitter, Musk received huge financial help, almost $13 billion from major banks.

It also includes Charlotte-based Bank of America.

Statistically, Elon Musk uses about $27 billion from his funds and assets to purchase Twitter.

Therefore, the remaining money comes from investors and major finance institutions.

Moreover, Musk will get more investment banking support as Bank of America will lend about $2.5 billion in debt.

Meanwhile, some people said they would stop using Twitter due to Elon Musk’s free speech policies.

The richest man in the world said his people will establish a content moderation council.

Free speech is a serious topic since social media raised many ethical issues.

Twitter is turning into a private business and was delisted from the New York Stock Exchange after Elon Musk’s acquisition.

An associate professor of psychology at UNC-Charlotte, Sara Levens, said it’s quite suspicious when you move a company to private ownership.

An associate professor of psychology at UNC-Charlotte, Sara Levens, said it’s quite suspicious when you move a company to private ownership.

Elon Musk may not need to feel nervous about his finance, but he should concern about Twitter’s ethical issue.