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Tesla’s Elon Musk received commitments for $46.5 billion for Twitter acquisition attempt

(Credit: Tesla)

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3 years ago

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Tesla CEO Elon Musk has hinted that he has a “Plan B” just in case his initial acquisition attempt for Twitter does not succeed. A new securities filing published on Thursday appears to hint at what this “Plan B” could be. 

As noted in a Schedule 13D filing, Musk is currently exploring a tender offer to purchase some or all Twitter stock directly from shareholders. The Tesla CEO noted that this new strategy was adopted partly because Twitter’s Board of Directors had not responded to his initial acquisition offer. What’s interesting, however, is that Musk has received commitments for $46.5 billion to help finance the potential deal. 

The relevant section of the 13D filing follows: 

“Twitter has not responded to the Proposal. Given the lack of response by Twitter, the Reporting Person is exploring whether to commence a tender offer to acquire all of the outstanding shares of Common Stock (together with the associated rights issued pursuant to the Rights Agreement (the ‘Rights’ and, together with the Common Stock, the ‘Shares’)) that are issued and outstanding (and not held by the Reporting Person) at a price of $54.20 per share, net to the seller in cash, without interest and less any required withholding taxes, subject to certain conditions (the ‘Potential Offer’), but has not determined whether to do so at this time. 

“To finance the Proposed Transaction or a Potential Offer, entities related to the Reporting Person have received commitment letters committing to provide an aggregate of approximately $46.5 billion as follows:

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(i) A debt commitment letter, dated April 20, 2022 (the “Debt Commitment Letter”), from Morgan Stanley Senior Funding, Inc. and certain other financial institutions party thereto as commitment parties (collectively, the “Commitment Parties”) pursuant to which the Commitment Parties have committed to provide $13 billion in financing to the Reporting Person and related entities as follows: (a) a senior secured term loan facility in an aggregate principal amount of $6.5 billion, (b) a senior secured revolving facility in an aggregate committed amount of $500 million, (c) a senior secured bridge loan facility in an aggregate principal amount of up to $3 billion and (d) a senior unsecured bridge loan facility in an aggregate principal amount of up to $3 billion ((a) – (d) collectively, the “Debt Facilities”);

(ii) A separate debt commitment letter, dated April 20, 2022 (the “Margin Loan Commitment Letter”), from Morgan Stanley Senior Funding, Inc. and certain other financial institutions party thereto as commitment parties (collectively, the “Margin Loan Commitment Parties”) pursuant to which the Margin Loan Commitment Parties have committed to provide $12.5 billion in margin loans (the “Margin Loan Facility”), the proceeds of which will be distributed or otherwise made available to Purchaser; and

(iii) An equity commitment letter, dated April 20, 2022 (the “Equity Commitment Letter”), from the Reporting Person pursuant to which the Reporting Person has committed to provide equity financing for the Proposed Transaction or the Potential Offer sufficient to pay all amounts payable in connection with the Offer and the Merger (plus related fees and expenses), net of the amounts to be funded pursuant to the Debt Commitment Letter and the Margin Loan Commitment Letter, which is currently expected to be approximately $21 billion (the “Equity Financing”).

Musk caught headlines last week when he announced his intention to acquire Twitter for $54.20 a share in a deal worth about $43 billion. While the Twitter Board of Directors did not formally respond to Musk’s offer, the company adopted a “poison pill” strategy on Friday in what was viewed as an attempt to block a takeover by the Tesla CEO. Twitter co-founder Jack Dorsey has expressed his support of Musk, even noting that the social media company has had a “dysfunction” for some time now. 

Prior to his announcement of a proposed Twitter acquisition, Musk had purchased over 73 million shares of the social media company. By amassing a stake of over 9% in Twitter, Musk effectively became one of the company’s single largest shareholders. Twitter soon announced its plan to give Musk a seat on its Board of Directors on the condition that he could not own more than 14.9% of the company. The Tesla CEO declined the seat and issued his buyout proposal not long after. 

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Elon Musk’s latest filing can be viewed here. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla Supercharger Diner food menu gets a sneak peek as construction closes out

What are you ordering at the Tesla Diner?

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8 hours ago

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July 18, 2025

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Credit: BradGoldbergMD | X

The Tesla Supercharger Diner in Los Angeles is nearing completion as construction appears to be winding down significantly. However, the more minor details, such as what the company will serve at its 50s-style diner for food, are starting to be revealed.

Tesla’s Supercharger Diner is set to open soon, seven years after CEO Elon Musk first drafted the idea in a post on X in 2018. Musk has largely come through on most of what he envisioned for the project: the diner, the massive movie screens, and the intended vibe are all present, thanks to the aerial and ground footage shared on social media.

We already know the Diner will be open 24/7, based on decals placed on the front door of the restaurant that were shared earlier this week. We assume that Tesla Optimus will come into play for these long and uninterrupted hours.

The Tesla Diner is basically finished—here’s what it looks like

As far as the food, Tesla does have an email also printed on the front door of the Diner, but we did not receive any response back (yet) about what cuisine it will be offering. We figured it would be nothing fancy and it would be typical diner staples: burgers, fries, wings, milkshakes, etc.

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According to pictures taken by @Tesla_lighting_, which were shared by Not a Tesla App, the food will be just that: quick and affordable meals that diners do well. It’s nothing crazy, just typical staples you’d find at any diner, just with a Tesla twist:

As the food menu is finalized, we will be sure to share any details Tesla provides, including a full list of what will be served and its prices.

Additionally, the entire property appears to be nearing its final construction stages, and it seems it may even be nearing completion. The movie screens are already up and showing videos of things like SpaceX launches.

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There are many cars already using the Superchargers at the restaurant, and employees inside the facility look to be putting the finishing touches on the interior.

It’s almost reminiscent of a Tesla version of a Buc-ee’s, a southern staple convenience store that offers much more than a traditional gas station. Of course, Tesla’s version is futuristic and more catered to the company’s image, but the idea is the same.

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It’s a one-stop shop for anything you’d need to recharge as a Tesla owner. Los Angeles building permits have not yet revealed the date for the restaurant’s initial operation, but Tesla may have its eye on a target date that will likely be announced during next week’s Earnings Call.

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Tesla’s longer Model Y did not scale back requests for this vehicle type from fans

Tesla fans are happy with the new Model Y, but they’re still vocal about the need for something else.

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1 day ago

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July 17, 2025

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Credit: AlwinArt/Twitter

Tesla launched a slightly longer version of the Model Y all-electric crossover in China, and with it being extremely likely that the vehicle will make its way to other markets, including the United States, fans are still looking for something more.

The new Model Y L in China boasts a slightly larger wheelbase than its original version, giving slightly more interior room with a sixth seat, thanks to a third row.

Tesla exec hints at useful and potentially killer Model Y L feature

Tesla has said throughout the past year that it would focus on developing its affordable, compact models, which were set to begin production in the first half of the year. The company has not indicated whether it met that timeline or not, but many are hoping to see unveilings of those designs potentially during the Q3 earnings call.

However, the modifications to the Model Y, which have not yet been officially announced for any markets outside of China, still don’t seem to be what owners and fans are looking forward to. Instead, they are hoping for something larger.

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A few months ago, I reported on the overall consensus within the Tesla community that the company needs a full-size SUV, minivan, or even a cargo van that would be ideal for camping or business use.

Tesla is missing one type of vehicle in its lineup and fans want it fast

That mentality still seems very present amongst fans and owners, who state that a full-size SUV with enough seating for a larger family, more capability in terms of cargo space for camping or business operation, and something to compete with gas cars like the Chevrolet Tahoe, Ford Expedition, or electric ones like the Volkswagen ID.BUZZ.

We asked the question on X, and Tesla fans were nearly unanimously in support of a larger SUV or minivan-type vehicle for the company’s lineup:

Here’s what some of the respondents said:

Tesla is certainly aware that many of its owners would like the company to develop something larger that competes with the large SUVs on the market.

However, it has not stated that anything like that is in the current plans for future vehicles, as it has made a concerted effort to develop Robotaxi alongside the affordable, compact models that it claims are in development.

It has already unveiled the Robovan, a people-mover that can seat up to 20 passengers in a lounge-like interior.

The Robovan will be completely driverless, so it’s unlikely we will see it before the release of a fully autonomous Full Self-Driving suite from Tesla.

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Energy

Tesla launches first Virtual Power Plant in UK – get paid to use solar

Tesla has launched its first-ever Virtual Power Plant program in the United Kingdom.

Published

1 day ago

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July 17, 2025

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Credit: Tesla Energy | X

Tesla has launched its first-ever Virtual Power Plant program in the United Kingdom. This feature enables users of solar panels and energy storage systems to sell their excess energy back to the grid.

Tesla is utilizing Octopus Energy, a British renewable energy company that operates in multiple markets, including the UK, France, Germany, Italy, Spain, Australia, Japan, New Zealand, and the United States, as the provider for the VPP launch in the region.

The company states that those who enroll in the program can earn up to £300 per month.

Tesla has operated several VPP programs worldwide, most notably in California, Texas, Connecticut, and the U.S. territory of Puerto Rico. This is not the first time Tesla has operated a VPP outside the United States, as there are programs in Australia, Japan, and New Zealand.

This is its first in the UK:

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Tesla is not the only company that is working with Octopus Energy in the UK for the VPP, as it joins SolarEdge, GivEnergy, and Enphase as other companies that utilize the Octopus platform for their project operations.

It has been six years since Tesla launched its first VPP, as it started its first in Australia back in 2019. In 2024, Tesla paid out over $10 million to those participating in the program.

Tesla VPP program in California hits new capacity milestone

Participating in the VPP program that Tesla offers not only provides enrolled individuals with the opportunity to earn money, but it also contributes to grid stabilization by supporting local energy grids.

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