Elon Musk’s team is looking for new Twitter investors: report

The managing director of Elon Musk’s family office is looking for new Twitter equity investors, news platform Semafor reported Friday, citing two people familiar with the fundraising effort.

Musk money manager Jared Birchall reached out to potential investors this week to sell Twitter shares for $54.20, the same price Musk paid to take the company private in October. according to reports.

Twitter and Musk did not immediately respond to Reuters’ requests for comment.

Mask sold another Owns $3.6 billion worth of Tesla stock earlier this weekshares of the electric car company sold this year were worth about $40 billion.

The sale is the second big chunk of Tesla stock that the billionaire has cashed out. Acquired Twitter for $44 billion In October, despite saying in April that the sale of its stake in the electric vehicle company had been completed.

Meanwhile, Twitter advertisers run away Amid concerns over Musk’s approach crackdown on tweetshit earnings and ability to pay interest $13 billion in debt Musk’s acquisition of a social media company.

Tesla investor Ross Gerber, who said he invested less than $1 million in Musk’s first acquisition of Twitter, confirmed Thursday night that he had been contacted about another funding round, Semafor reported.