[ad_1]
Elon Musk has revealed that he has raised $7.14bn of funding for his $44bn offer for Twitter, from investors including Oracle co-founder Larry Ellison, crypto exchange Binance and asset management firms Fidelity, Brookfield and Sequoia Capital.
Musk needs to raise $21bn of equity to fund the purchase, alongside a substantial amount of debt and loans from global banks.
The biggest cheque, of $1bn, comes from Ellison. Venture capital firm Sequoia is providing $800mn, while Dubai-based tech investment firm VyCapital is giving $700mn. Binance is providing $500mn.
Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, already an investor in Twitter, will roll 35mn shares into the bid vehicle, which at the offer price equates to a $1.9bn stake.
More to follow . . .
[ad_2]
Source link