The billionaire has managed to get several investment funds and other businessmen to contribute part of the 44,000 million for which he will acquire the platform
Of the $44,000 million for which Elon Musk will buy Twitter, the businessman promised to give 21,000 directly out of pocket for the acquisition of the platform. And it’s much closer to achieving it after the founder of Tesla managed to contribute several investment funds and other entrepreneurs $7,000 million, including Larry Ellison, co-founder of Oracle, or the Saudi prince and businessman Al Walid bin Talal. .
Therefore, Musk will personally pay 21,000 million and the remaining 23,000 million will correspond to bank loans. In a document sent to the SEC, the US stock market regulator, the co-founder of SpaceX named a total of 19 investors who agreed to contribute to the takeover of the social network.
Billionaire Larry Ellison, co-founder of computer giant Oracle and member of Tesla’s board of directors, will contribute $1 billion. Mutual funds Sequoia Capital ($800 million), Vy Capital ($700 million) and Brookfield ($500 million) are also among the top contributors.
Prince Bin Talal, for his part, will make nearly 35 million of his Twitter shares available once the purchase is completed to maintain a stake in the company’s capital, which Musk plans to pull from the stock market. And that this investor had previously considered that Musk’s offer of $54.20 a share was too low to buy a company like Twitter.
The businessman also told the SEC that he is seeking other funding sources from Twitter’s shareholders itself, including the platform’s founder and former CEO, Jack Dorsey. With this step forward, Twitter’s purchase could be completed before the end of the year.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
