The New York Post is reporting that Elon Musk is willing to invest between $10 billion and $15 billion of his own money to take Twitter Inc private and is planning to launch a tender offer in about 10 days.
According to the report, Musk has tapped American multinational investment bank Morgan Stanley to raise another $10 billion in debt.
The social media company adopted a “poison pill” last week to protect itself from its second-biggest shareholder’s $43 billion buyout offer.
If the deal does go through, Musk has said his goal is to “unlock” Twitter’s “extraordinary potential,” but his suggestions for specific changes for how to do that have arguably been vague.
A key focus of his, has been bolstering free speech on the platform, and his suggestion for algorithms is central to that effort.
Hours after Musk made his offer to buy Twitter, he repeated the idea for open sourcing Twitter’s algorithms during an on-stage appearance at the TED conference in Vancouver.