Sunday, April 14

Musk Collects, Including from Qatar and Larry Ellison, 7 Billion Dollars for the Takeover of Twitter

Elon Musk has secured some $7.1 billion to fund his $44 billion acquisition of Twitter. The American billionaire and Tesla boss brought several investors on board. Striking: the emirate of Qatar is also releasing resources ($375 million).


The money will come from crypto firm Binance, investors Brookfield, Fidelity Management & Research, Lawrence J. Ellison Revocable Trust, Sequoia Capital and Qatar Holding, which is wholly owned by Qatar’s state investment company.

Larry Ellison, one of the founders of software giant Oracle, will also support Musk. He’s freeing up $1 billion. Ellison is no stranger to Musk: he already has a large stake in Tesla and sits on its board of directors.

Kingdom Holding Company of the Saudi prince Al-Waleed bin Talal al-Saud, already a shareholder of Twitter, wants to keep shares of the microblogging site itself. The investment company speaks of about 35 million units. They are worth a total of about $1.9 billion at Musk’s bid price of $4.20.

The world’s richest man announced a deal to take over Twitter late last month. He has already sold more than $8.5 billion in Tesla shares to pay for the takeover and secured multi-billion-dollar loans from banks.

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