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Twitter jumps after Musk increases commitment in takeover bid to $33.5 billion, in talks for other funding


Elon Musk during an event at SpaceX headquarters, Hawthorne in California on Thursday October 10, 2019

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New filing revealsElon Musk has plans to raise $33.5 billion to finance his attempt to takeover Twitter.

Musk has been in discussions with Jack Dorsey, Twitter’s former CEO, and other parties to finance or transfer their shares to close the deal.

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David Faber, CNBC’s former reporter for the site, reported that Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes the $44 billion acquisition.

Twitter’s shares surged 7% following the news.

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