In this photo illustration, Elon Musk’s Twitter account is displayed on a smartphone screen and the Twitter logo in the background.
Pavlo Gonchar | Light rocket | Getty Images
A new file demonstrates this Oracle co-founder Larry Ellison, venture capital firm Sequoia, and cryptocurrency exchange platform Binance are among a cohort of investors planning to support Elon Musk’s $ 44 billion Twitter detect.
the SEC filingreleased Thursday, it shows Musk secured $ 7.14 billion in total.
Billionaire Ellison is contributing $ 1 billion, making him the biggest new supporter, while Sequoia is contributing $ 800 million. Binance, which no doubt benefited from Musk’s love of cryptocurrencies, pledged $ 500 million.
Other investment firms backing Musk’s offer include Qatar Holding, which is contributing $ 375 million, and Fidelity, which pledged $ 316 million.
The new commitments will help Musk reduce the margin loan he took from $ 12.5 billion to $ 6.25 billion.
Saudi Prince Alwaleed Bin Talal Abdulaziz Alsaud, who is already a Twitter investor, has pledged to buy 34,948,975 shares, worth approximately $ 1.7 billion.
Prince She said Musk’s April 14 bid for Twitter, which totals $ 54.20 per share, approaches the company’s “intrinsic value” given its “growth prospects.”
He added, “As one of Twitter’s largest long-term shareholders, @Kingdom_KHC and I reject this offer.”
Shares of Twitter are currently trading at around $ 50.
Here’s a look at the equity commitments: