Elon Musk Secures Over $7 Billion Backing for Twitter Takeover

Elon Musk has secured $7.1bn from 19 new investors to help back the Twitter takeover. The investors, some of the world’s largest investors, have contributed to his $44bn purchase of Twitter.

The investment will help reduce Elon Musk’s risk in the purchase of Twitter announced on April 14th, 2022, the deal although already approved by Twitter has not been finalized.

Some of the investors listed are; Oracle founder, Larry Ellison who is Elon Musk’s friend and has invested the highest amount with $1 billion.

Saudi Prince, Alwaleed bin Talal, has also pledged to invest about 35 Twitter shares worth $1.9 billion to remain a stakeholder in the company post-acquisition, as reported by a security filing Thursday.

Other investors include Ellison ($1 billion), Sequoia Capital ($800 million), Vy Capital ($700 million), and Crypto exchange, Binance.

The filling reportedly said, “Elon Musk may receive additional financing commitments to fund additional portions of the total Merger”

The filing further said that Mr Musk and former Twitter CEO Jack Dorsey are in talks with other investors who may contribute shares to maintain an equity risk.

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