Musk, the world's richest person according to Forbes, is negotiating to buy Twitter in a personal capacity and Tesla (TSLA.O) is not involved in the deal.
Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added.
Twitter and Musk did not immediately respond to requests for comment.
The billionaire, a vocal advocate of cryptocurrencies, has also suggested adding dogecoin as a payment option on Twitter.
1/2 Elon Musk's twitter account is seen through the Twitter logo in this illustration taken, April 25, 2022.
Musk unveiled his intention to buy Twitter on April 14 and take it private via a financing package comprised of equity and debt.
Musk did not provide any financing details when he first disclosed his offer for Twitter, making the market skeptical about its prospects. »