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Even the world's richest person needs financial advice. That's great news for Morgan Stanley, the investment bank of choice for Elon Musk.
News & Views
New York (CNN Business)Even the world's richest person needs financial advice. That's great news for Morgan Stanley, the investment bank of choice for Elon Musk.
Morgan Stanley (MS) advised the Tesla (TSLA) CEO on his $44 billion acquisition of Twitter (TWTR). The bank also helped secure $25.5 billion in funding for the deal, including $12.5 billion in loans that use Musk's Tesla stock as collateral. That should lead to lucrative fees and interest income for Morgan Stanley.
Investment banks usually get about a 1% to 3% cut of the value of a merger deal, which is split among all the banks involved. Based on the $44 billion purchase price, that works out to a range of $440 million to $1.3 billion.
Source: CNN
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