The investor in Musk’s Twitter buyout expects to make up to five times his money from Health & Fitness Journal

©Health & Fitness Journal. FILE PHOTO: The Twitter logo and a photo of Elon Musk are viewed through a magnifying glass in this illustration taken on October 27, 2022. REUTERS/Dado Ruvic/Illustration

By Milana Vinn

(Health & Fitness Journal) – Aliya Capital Partners LLC, one of the largest investors that has joined Elon Musk’s $44 billion acquisition of Twitter Inc (NYSE:), said on Tuesday that it is expecting, despite social media’s woes company to earn up to five times its money.

Twitter bled advertisers dry after Musk laid off more than half of its 7,500 employees and snubbed some users with his rapidly changing moderation policy decisions. Musk tweeted earlier this week that the social media company has been “on the fast track to bankruptcy since May.” He took over Twitter on Oct. 27 and said this week he would abide by the results of a Twitter poll in which a majority voted to step down as Twitter boss.

Aliya, a Miami-based wealth manager who co-invested $360 million in the Twitter buyout with Musk, said he believes Musk will benefit from the 229 million daily active Twitter users who are “in underfunded in the past”.

“We believe that in just a few years, Twitter will deliver 4x to 5x returns with comparatively limited downside risk,” Aliya Chief Executive Ross Kestin said in a statement.

A spokesman for Musk did not immediately respond to a request for comment.

Kestin didn’t respond to follow-up questions about Twitter’s challenges under Musk. Banks that funded the Twitter buyout don’t believe the debt is worth its full value and have struggled to get it off their books by selling it to credit investors, reflecting Twitter’s financial troubles under Musk underlines.

In his statement, Kestin pointed to Musk’s other accomplishments at electric carmaker Tesla (NASDAQ:) Inc and rocker developer SpaceX as a source of his confidence in the billionaire entrepreneur. Aliya also invested in SpaceX.

“While the global auto industry was literally spinning its wheels and creating the same boring product, Elon was creating an industry. When NASA couldn’t get their rockets in the air, this man’s vision took off,” Kestin said.

“It’s happening again with Twitter.”