There has been a new development regarding the search for funding for Elon Musk, who bought Twitter for $ 44 million.
During negotiations with many investors to finance the acquisition process, Musk received $7.14 billion in financing from a group of investors, including Oracle co-founder Larry Ellison and Sequoia Capital.
Investors also include the Binance exchange. It is reported that Binance has promised to invest $ 500 million. Binance CEO Changpeng Zhao quoted a message from his Twitter account, commenting: “A small contribution to the common cause.”
On the other hand, Sequoia Capital provided $800 million, Fidelity $316 million and Andreessen Horowitz $400 million in commitment letters.
Larry Ellison, a member of the Tesla board of directors and a close friend of Elon Musk, has allocated $1 billion in funding.
Qatar Holding, which is also an investor in Musk’s other venture, The Boring Company, and Dubai-based Vy Capital are also part of the investor group.
In addition, Saudi Arabian investor Prince Alwaleed bin Talal, who initially opposed the purchase, agreed to include his $1.89 billion stake in the deal rather than cash it out.
Thus, Musk’s financial liabilities of $21 billion were revised to $27.25 billion.
Musk will continue negotiations with existing Twitter shareholders, including Jack Dorsey.
