Is Elon Musk finally losing his pull?
Earlier this week, the company announced that it was able to raise $6 billion in its Series B fundraising, touting “participation from key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others.”
However, as X user @ZeroSumBond points out, the US Securities and Exchange Commission filing suggests a different story. It shows that the company had an offering of a little over $7 billion and was only able to sell a little over $5 billion — a lot less than the target and still a billion short of what was announced.
$TSLA $TSLAQ Elon's losing his edge. $7bn offering, $2bn still left to be sold. Going to be hard to fund the endless cash burn in his companies. https://t.co/SDTeAWG8of pic.twitter.com/4ZGRKw3gDv
— Zero Sum Bond (@ZeroSumBond) May 28, 2024
The $6 billion figure was first reported by Bloomberg earlier in the month, citing unnamed sources, about five months after Musk claimed that the company wasn’t raising funds.
So this was another lie? Was the raise $7bn and they couldn't raise it all? https://t.co/GRCGmBGlj8 pic.twitter.com/DNngNGDA8u
— Zero Sum Bond (@ZeroSumBond) May 28, 2024
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