Elon Musk’s workforce has attained out to buyers to raise new resources for his battling social media platform Twitter, a single of the investors claimed.

Ross Gerber, president and CEO at Gerber Kawasaki Prosperity & Financial investment Management, advised Reuters that he was contacted by a Musk consultant about offering a lot more shares at the very same value, $54.20, that Musk paid to just take the enterprise personal in October.

Jared Birchall, the managing director of Elon Musk’s spouse and children business arrived at out to possible traders this 7 days, information system Semafor noted on Friday, citing two people today acquainted with the fundraising effort and hard work.

Twitter and Musk did not reply to Reuters requests for opinions.

Twitter has seen advertisers flee amid concerns about Musk’s strategy to policing tweets, hitting revenues and its ability to fork out curiosity on the $13 billion financial debt that Musk took on to obtain the social media enterprise.

Musk offered a further $3.6 billion worthy of of shares in Tesla previously this week, producing it approximately $40 billion value of shares in the electrical-vehicle enterprise marketed this 12 months.

Tesla shares on Friday posted their worst weekly loss considering that March 2020, with buyers ever more anxious about Musk becoming distracted by Twitter and the slowing worldwide financial state.