Financial support for Musk from the world of crypto-money


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.