Twitter shares fell as much as 3 percent to touch a low of USD46.50 (roughly Rs. 3,500) in afternoon trading.
Musk, the world’s richest person and also the chief executive of electric car maker Tesla, on April 25 clinched a deal to buy the social media platform. Twitter said at the time that Musk secured USD 25.5 billion (roughly Rs. 197 crore) of debt and margin loan financing and was providing a USD 21 billion (roughly Rs. 162 crore) equity commitment.Musk, who is worth USD 268 billion (roughly Rs. 20,709,03 crore) according to Forbes, had said he was not primarily concerned with the economics of Twitter.
“Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. I don’t care about the economics at all,” he said in a recent public talk.
