Elon Musk lists 18 investors who have committed to stump up $7bn worth of equity to help fund his Twitter takeover including Qatari Holding and NYC real estate investor Witkoff
Elon Musk has listed 18 investors who have committed to stump up more than $7billion worth of equity to help fund his Twitter takeover.
In a filing on Thursday, the world’s richest man said that Oracle Corp co-founder Larry Ellison’s trust will invest $1 billion towards the $44 billion purchase of the social-media platform.
Musk said he had also received equity commitment letters from investors including Sequoia Capital, Brookfield and others for financing of $7.14 billion. Other investors listed included Qatari Holding and NYC real estate investor Steve Witkoff.
The move comes as Musk’s margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, the filing revealed.
Musk will continue to hold talks with existing holders of Twitter, including the company’s former chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing showed.
It was reported last week that Musk was in talks with large investment firms and high net-worth individuals about taking on more financing for his Twitter acquisition and tying up less of his wealth in the deal.
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Pictured: Elon Musk and his mother Maye Musk arrive for the 2022 Met Gala at the Metropolitan Museum of Art on May 2, 2022, in New York