Potential Funders of Elon Musk’s Twitter Buy Are Walking Away: Report

Elon Musk‘s will-he-or-won’t he deal to buy Twitter, going forward again as of yesterday, is pretty big. We’re talking a $44 billion price tag. And even the richest man in the world apparently needs help footing that bill.

While he’s sold about $32 billion worth of stock in his car company Tesla over the past year to free up some cash, Musk’s fever dream of owning his favorite app still depends on major banks like Morgan Stanley and Bank of America providing $12.5 billion in leveraged loans and unsecured bonds. (Fun fact: they’re now facing significant losses if he completes the merger!) The tycoon is also looking to private equity investors to join in the takeover — and two of them reportedly just bailed.

Investment firms Apollo Global Management and Sixth Street have abandoned talks to contribute financing for Musk’s agreement, sources told Reuters. The latter was supposed to have considered a package of up to $1 billion. Reps for Apollo and Twitter did not immediately return Rolling Stone‘s requests for comment; Sixth Street declined to comment.

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