Elon Musk has recently reacted to a tweet that says that Yahoo! is jealous that there are people that care that Twitter might die. The CEO simply replied with a laughing emoji.
Tweet Could be Referring to How Yahoo Lost Yahoo Messenger
This tweet could be referring to how Yahoo! was once one of the earliest and biggest social media platforms of the early internet. Its software, Yahoo Messenger, was a means for people to communicate with each other.
The thing about Yahoo Messenger is that it was officially shut down on July 17, 2018, as per an article by Life Wire. Although Yahoo Mail still exists, many emails nowadays are Gmail accounts, as Google has taken over.
Elon Musk Replied to the Tweet with a Laughing Emoji
Yahoo used to have the biggest search engine but was overtaken by Google. The most popular Yahoo asset is Yahoo News which includes Yahoo Finance, among other pieces.
The tweet poked fun at Yahoo! for being jealous that there are people that care that Twitter might die. To this, Elon Musk simply replied with a laughing emoji.
🤣
— Elon Musk (@elonmusk) November 18, 2022
Apollo Global Management, the Owner of Yahoo, was Looking at Elon's Acquisition of Twitter
An article by Pymnts shares how Apollo Global Management was thinking about participating in the acquisition of Twitter by Elon Musk. Apollo Global Management is the owner of Yahoo.
It was noted that Apollo had discussions about backing a potential deal for Twitter. It said they could give Musk or someone else equity to support the offer to acquire Twitter.
Elon Musk had to Get $12.5 Billion from Loans
The interest in Apollo came at a time when a lot of other companies wanted to take part in the Twitter deal. An article by Al Jazeera shared how Musk could finance the Twitter deal.
The article noted that $12.5 billion came from loans backed by his Tesla shares. This means he does not have to sell those shares.
Musk had to Sell Tesla Shares Worth $15.5 Billion in Two Waves in April and August
Musk ended up selling about $15.5 billion of Tesla shares in two waves in April and August. Personally, Elon Musk was able to come up with $27 billion in cash. Other notable investments came from $5.2 billion from other investment groups and individuals.
The people that invested include Oracle's co-founder Larry Ellison who wrote a $1 billion check. In an article by Street Insider, Musk asked him for $2 billion.
Banks and Groups that Backed Elon Musk's Loans
Qatar Holding, the Qatar Investment Authority, has added capital to Musk's decision to purchase Twitter. Even Prince Alwaleed bin Talal of Saudi Arabia decided to transfer about 35 million shares he owned to Musk.
Because of the investments, the investors were all to become Twitter shareholders. The loans were reportedly backed by Morgan Stanley, Bank of America, Mitsubishi UFJ Financial Group and Mizuho, Societe Generale, Barclays, and BNP Paribas.
Related Article: Elon Musk Agrees that Twitter was About to be Bankrupt and is Now Headed Towards Sustainable Profitability for the First Time Ever
This article is owned by Tech Times
Written by Urian B.
