Twitter: Elon Musk's team hunts for new investors as advertisers flee

Twitter: Elon Musk's team is looking for new Twitter investors, according to news platform Semafor on Friday (December 16). According to the report, Musk's money manager, Jared Birchall, reached out to potential investors. They have been offered Twitter shares at the same price Musk paid to acquire the company (USD 54.20).

Neither Twitter nor Musk responded immediately.

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Why advertisers are fleeing?

Advertisers are fleeing the social media platform as concerns grow about Musk's approach to tweet policing. This has impacted Twitter's revenues as well as its ability to pay interest on the $13 billion debt Musk took on to purchase the company.

According to Semafor, Ross Gerber, a Tesla investor who said he put less than $1 million into Musk's original takeover of Twitter, was contacted Thursday evening about another funding round.

Twitter makes headlines almost every day. Musk has faced widespread criticism for how he handled the doxxing of his plane. Several journalists' Twitter accounts were suspended after they wrote about the issue. Many countries have reacted negatively to this.

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Officials from these countries condemned the suspensions

Officials from France, Germany, the United Kingdom, and the European Union all condemned the suspensions, with some claiming that the platform was endangering press freedom.

The episode, dubbed the "Thursday Night Massacre" by one well-known security researcher, is being viewed as new evidence of the billionaire, who considers himself a "free speech absolutist," eliminating speech and users he personally dislikes.

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