Elon Musk to pay USD 1 Billion as deal termination fee to Twitter
Image Credit: Twitter
Tesla CEO Elon Musk, who has cancelled the $44 billion Twitter buyout deal, will have to pay $1 billion in termination fee to the micro-blogging platform. As per an earlier filing with the US Securities and Exchange Commission (SEC), "Musk will be required to pay Twitter a termination fee of $1 billion", if he cancels the deal. Musk was expected to provide equity financing of approximately $21 billion on his own.