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National Post
National Post
1 Sep 2024


NextImg:Under Elon Musk, Twitter has lost half its value

When Elon Musk bought Twitter and renamed it X, he didn’t do it alone. Though the billionaire tapped his vast wealth to cover the lion’s share of the $44 billion purchase price in 2022, he also relied on bank loans and a long list of investors, the full extent of which was only recently revealed.

At the time, analysts marveled at Musk’s ability to attract dozens of enthusiastic partners. Saudi Prince Alwaleed bin Talal, who rolled nearly $2 billion in Twitter stock held by himself and a Saudi holding company into the private deal, tweeted at Musk: “I believe you will be an excellent leader for @Twitter to propel & maximise its great potential.”