Elon Musk is willing to invest around $10 billion to $15 billion of his own money to take Twitter Inc private.
It is noted that Elon Musk is the second-biggest shareholder of Twitter with a 9.1% stake. He is planning to launch a tender offer in about 10 days. Musk has also tapped Morgan Stanley to raise another $ 10 billion in debt.
Musk is the Chief Executive of Tesla.
Musk may also be willing to borrow against his current stake if necessary, a move that could possibly raise several billion additional dollars, the New York Post reported.
Twitter declined to comment. Tesla did not immediately respond to a Reuters request for comment from Musk.
Twitter shares were down 1.6% at $47.69 in afternoon trade, well below Musk’s offer of $54.20.