Elon Musk manages to get by with the support of his companions. With his Twitter purchase, he now has several big-name investors on board, including Larry Ellison, Binance, a16z, and Sequoia Capital. Now Alwaleed bin Talal is investing $1.9 billion, Ellison is investing $1 billion and Binance is also investing in Elon musk’s Twitter deal. According to an SEC filing on Thursday, 19 investors helped secure $7.14 billion in new investment for Musk’s $44 billion deal.
Elon Musk’s Twitter deal
The purchase of Twitter by Musk is estimated to be worth $44 billion. Elon Musk agreed to buy Twitter for $44 billion, becoming the world’s richest person to do so. World leaders, celebrities, and cultural trendsetters frequented the popular social network.
Alwaleed bin Talal has committed to invest $1.9 billion in the Twitter deal
Prince Alwaleed bin Talal, a Saudi Arabian billionaire who has long backed Twitter and was initially hesitant to endorse Musk, has committed to invest in Musk’s buying vehicle. Musk’s purchase price is reduced because the prince agreed to roll over his $1.9 billion investment in the company. Alwaleed bin Talal has committed to investing in Twitter because of his friendship with Elon Musk.
Larry Ellison invested $1 billion in Twitter
Oracle co-founder Larry Ellison, who is also a Tesla investor, offered the largest check, worth $1 billion. Notably, no investor has invested more than $1 billion, and large private finance companies have remained silent.
In a tweet, Ben Horowitz, co-founder and general partner of Andreessen Horowitz, said, “Elon is the one person we know, and maybe the only person in the world, who has the courage, intelligence, and abilities to solve all of these and establish the public square that we all hoped for and deserve.”
Musk mentioned Strauss Capital, Brookfield, Baron Capital’s Bamco, and others as investors in the petition. Musk’s Boring Company has received investments from VyCapital and Sequoia Capital, respectively for $700 million and $800 million. Binance, which shares Musk’s enthusiasm for cryptocurrency, has pledged $500 million.
Musk is really not done attracting new investors. According to the filing, he’s having more discussions with current Twitter stockholders like Jack Dorsey about contributing to his purchase.
According to the report, the additional investments helped Musk reduce his $12.5 billion margin loans against his Tesla share to $6.25 billion. Tesla’s borrowing plans alarmed investors, sending the company’s stock plummeting.
Another major source of worry for Tesla shareholders: according to CNBC’s David Faber, Musk expects to serve as Twitter’s interim CEO after the agreement closes.
According to the Wall Street Journal, Musk reportedly told potential investors that he wants to take Twitter public again after a few years. The purchase is expected to finalize later this year, according to Twitter officials, awaiting shareholder and regulatory approval.
