He responded to news of the investigation by criticising Mayor London Breed on Twitter, in front of his 120 million followers.
After his prior corporate spats with California officials, Musk’s other prominent companies, including Tesla, SpaceX, and the Boring Company, are located in Texas, where Musk is a resident. (Governor Greg Abbott has welcomed the idea of Twitter moving to Texas as well.) That would be Twitter’s most likely future home.
Bankers mull options to lighten Twitter debt
Elon Musk’s bankers are considering providing the billionaire with new margin loans backed by Tesla stock to replace some of the high-interest debt he layered on Twitter, according to sources. The margin loans are one of several options the Morgan Stanley-led bank group and Musk’s advisers have discussed to soften the burden of the $13-billion debt Twitter took on as part of Musk’s $44-billion buy.
Banks were forced to fund the debt package with their own cash after a deterioration in credit markets and a tumultuous start to Musk’s reign at Twitter made the debt difficult to syndicate to institutional investors. The firm may face annual interest costs of about $1.2 billion if the current debt structure remains in place.
Twitter Blue to cost $11 for iPhone users
Twitter plans to change the pricing of its Twitter Blue subscription product to $11, from $7.99, if paid for through its iPhone app and to $7 if paid for on the website, The Information reported on Wednesday, citing a source.
The move was likely a pushback against Apple’s 30 per cent cut on any payments made by users via apps on the iOS operating system. Reuters
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