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Investment: For his acquisition of Twitter, Elon Musk gets more than seven billion dollars

10/05/2022
Categories: Sectors

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Elon Musk secured $7.14 billion in funding from a group of investors to fund his $44 billion takeover of Twitter. These include Oracle Corp co-founder Larry Ellison and Sequoia Capital.

 

Last week, Reuters reported that the billionaire was in talks with investment funds and big fortunes in order to secure greater funding for his acquisition of Twitter, reducing the extent of his personal financial commitment to the deal.

According to the document filed with the US federal regulator and supervisor of financial markets, a Saudi investor, Prince Al-Walid bin Talal, who had initially opposed the takeover, also agreed to integrate his $1.89 billion stake in the transaction. Elon Musk's $21 billion financial commitment was also revised to $27.25 billion.

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