Elon Musk increases direct contribution to buy Twitter to $33.5 billion
Steph Deschamps / May 26, 2022
Elon Musk raised the amount contributed directly by the entrepreneur and his partners for the Twitter buyout to $33.5 billion, further lowering the amount borrowed from banks.
Tesla's chief executive, who had initially subscribed for 25.5 billion in loans, lowered those loans to $13 billion, according to a document filed Wednesday with the U.S. Securities and Exchange Commission (SEC), significantly easing its financial burden.
The U.S. Department of Justice announced Wednesday that it has reached a settlement with Twitter that includes a $150 million fine and obligations for the social network to better respect the privacy of personal information.
Authorities accuse the platform of misleading its users from 2013 to 2019 by hiding that it was using their personal data to help companies send them targeted advertising.