Musk in trouble: World's richest man's troubles increased after Twitter deal, know where the lawsuit was filed?
The world's richest man is in trouble after the deal to buy microblogging site Twitter was completed. While Tesla shares fell wildly soon after the deal, Musk is now in a new trouble. Actually, the Florida Pension Fund has sued Musk and Twitter against this deal.
Demand to postpone the deal till 2025
This lawsuit has been filed in Delaware Chancery Court to put a stay on the deal between Musk and Twitter. It has demanded that the deal between Elon Musk and Twitter should be put on hold until at least 2025. According to a report released in this regard, the petition filed said that Musk has become a willing shareholder in Twitter. According to the petition, the deal requires a delay of three years, until two-thirds of the shares that are not owned by him are cleared.
Tech world's third big deal
Elon Musk is busy working hard to complete his Twitter deal. He expects the deal to be completed this year. Let us tell you that this deal between Twitter and Musk is the third biggest deal in the tech world so far. However, there has been no response from Twitter or Elon Musk regarding this lawsuit so far.
Musk is constantly raising funds
The suit filed alleges that the directors of the company have breached their duties. Significantly, Musk has bought Twitter for $ 44 billion (Rs 3.37 lakh crore). Recently they said that they are raising funds for this deal and Sequoia Capital Fund has raised $800 million, ViCapital has raised $700 million. Whereas, Oracle co-founder Larry Ellison has agreed to invest one billion dollars.