San Francisco | New York | The head of Elon Musk’s family office has approached investors who helped the billionaire buy Twitter for $US44 billion ($66 billion) in October to try and raise new funds as the social media company continues to bleed cash and faces heavy interest payments on its debts.

Jared Birchall, a former Morgan Stanley banker, approached Twitter’s shareholders on Thursday afternoon, according to two people familiar with the matter. He offered new shares in the company at $US54.20 – the same price Mr Musk paid to take the company private.

Financial Times