Elon Musk will pay a billion dollars if the deal to buy Twitter is broken

As the U.S. media report, the agreement to acquire Twitter businessmen has already been signed, but finally the deal must be closed by October 24 this year.

In this case, the parties have signed an addendum to the main contract, in which the company and Musk will be required to pay a penalty of one billion dollars in case of failure of the deal through the fault of any of them.

In addition, Ilon Musk will face a billion-dollar penalty if the businessman fails to provide the necessary funding, corresponding to the new size of his capital in Twitter, by the time the deal is closed. Simply put, the more shares Musk has, the more investment is expected of him.