Serum Institute of India (SII) Adar Poonawalla has asked Tesla CEO Elon Musk to invest in India for the large-scale production of Tesla cars in the country if his $44 billion Twitter deal fails to go through.
Musk runs electric car company Tesla Inc, leads The Boring Co and SpaceX, and is the world's richest person according to Forbes magazine. In April, the SpaceX CEO had struck a deal to acquire Twitter for $44 billion. Twitter had announced that the public company will become privately held after the acquisition is complete.
Musk is currently dealing with investors to fund his $44 billion acquisition of Twitter. He hopes to complete his $54.20 per share Twitter takeover this year, in one of the world's largest leveraged buyouts.
Poonawalla stated that if Musk does not end up buying Twitter, then he should consider investing capital in India for high-quality large-scale manufacturing of Tesla cars. Poonawalla also assured Musk that this would be the best investment the Tesla CEO will ever make.
"Hey @elonmusk just in case you don't end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars. I assure you this will be the best investment you'll ever make," Poonawalla tweeted.
A Securities and Exchange Commission (SEC) filing on Thursday had shown that Elon Musk's Twitter buy-in has been funded by international crypto exchange Binance, among several other prominent names.
The Changpeng Zhao-led Binance participated in Musk's acquisition of Twitter, providing $500 million in funding. Other prominent names who participated in the deal were Sequoia Capital, Fidelity Management, Qatar Holding, and many more. Larry Ellison, a board member at Tesla and a self-described close friend of Musk, has committed $1 billion for the funding.
Sequoia put in $800 million, while Fidelity put in $316,139,386, the SEC filing showed. Investors like A.M. Management & Consulting, Andreessen Horowitz (a16z) founded by Marc Andreessen and Ben Horowitz, Brookfield, Honeycomb Asset Management LP, Litani Ventures, etc. also participated.
(With input from Reuters)
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today