The entrepreneur is on the hook to pay $33.5 billion in cash to fund the acquisition, but his liquidity is limited given that his wealth is largely tied to the shares of Tesla Inc.
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While the views of Twitter shareholders vary over what a fair price for a deal would be, many urged the firm not to let the opportunity for a deal slip away.
Musk, a self-described "free speech absolutist," has been critical of the social media platform and its policies.
Uber Technologies’ warring board members have struck a peace deal which allows a multibillion-dollar investment by SoftBank to proceed, resolving a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder.