Billionaire Tesla CEO Elon Musk acknowledged that he is “not sure” he’ll actually be able to buy Twi
Billionaire Tesla CEO Elon Musk acknowledged Thursday at the TED2022 conference in Vancouver that he is “not sure” he’ll actually be able to buy Twitter. The comments came hours after a regulatory filing revealed that he offered to acquire the company for $54.20 per share, or about $43 billion.
Twitter confirmed it had received the bid but its board must still review the offer, which values shares much lower than the $70 they reached last summer. But Musk had said the offer would be his “best and final” one.
Asked by TED’s Chris Anderson if there was a “Plan B” if his current offer were rejected, Musk said, “there is.”
He declined to elaborate.
Despite his vast wealth, much of Musk’s assets are not liquid, leaving some analysts to wonder how he would provide the funds if his bid were accepted. Wells Fargo analysts, for example, said Thursday that Musk may have to sell Tesla shares to fund the takeover.
Anderson asked if Musk had “funding secured,” alluding to Musk’s infamous tweet when he said he would take Tesla private, which later got him into hot water with the Securities and Exchange Commission.
“I have sufficient assets,” Musk said. “I can do it if possible.”