Elon Musk got another $7 billion from friends and investors to buy Twitter

Posted 50 days ago

From WWW.CNBC.COM

A new filing shows that Oracle co-founder Larry Ellison, venture capital firm Sequoia and crypto exchange platform Binance are among a cohort of investors that plan to support Elon Musk’s $44 billion Twitter takeover.

The SEC filing, published Thursday, shows that Musk has secured $7.14 billion in total.

Multibillionaire Ellison is contributing $1 billion, making him the biggest new backer, while Sequoia is contributing $800 million. Binance, which has no doubt benefited from Musk’s love of crypto, has committed $500 million.

Other investment firms backing Musk’s bid include Qatar Holding, which is contributing $375 million, and Fidelity, which has pledged $316 million.

The new commitments will help Musk to cut the margin loan he has taken from $12.5 billion to $6.25 billion.... (Read more)