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Musk Explores Raising $3 Billion to Pay Off Twitter Debt

According to the Wall Street Journal, Elon Musk's team is exploring the possibility of using $3 billion in new fundraising to help repay some of the $13 billion in debt accumulated from his buyout of Twitter Inc.

Elon Musk
Elon Musk

The report states that Musk's representatives discussed the possibility of selling up to $3 billion in new Twitter shares in December and that an equity raise, if successful, could be used to pay down an unsecured portion of the debt that carries the highest interest rate within the $13 billion Twitter loan package.

Twitter did not immediately respond to a Reuters request for comment. Musk responded to whether the WSJ report was accurate and said "no" in a tweet.