Musk pledges $6.25 bn more equity to fund Twitter deal

Elon Musk on Wednesday pledged an additional $6.25 billion in equity financing to fund the $44-billion offer for Twitter Inc, reducing the billionaire’s margin loan against his Tesla Inc shares to zero.

The disclosure made in a regulatory filing on Wednesday signalled Musk is working to complete the deal even though he had last week linked its progress to Twitter presenting proof that spam bots accounted for less than 5% of the total users.

While doubting that spam bots accounted for at least 20% of the users, the world’s richest man and Tesla top boss had suggested he could seek a lower price for the social media company.