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Elon Musk secures $7B from investors for Twitter buyout
By Yashasvini Razdan - May 05, 2022, 05:20 PM ET
Last Updated - Feb 27, 2024, 07:09 AM EST
Ellison is contributing $1 billion, making him the biggest new backer, while Sequoia is contributing $800 million. Binance has committed $500 million
• Oracle CEO Larry Ellison is the largest investor besides Musk, he contributed $1 billion
Elon Musk’s endeavour to buy Twitter for $44 billion is now being financially supported by a cohort of investors, including Oracle co-founder Larry Ellison, venture capital firm Sequoia and crypto exchange platform Binance.
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A Securities and Exchange Commission (SEC) filing published on Thursday showed that Musk had secured $7.14 billion from the group of investors.
Ellison is contributing $1 billion, making him the biggest new backer, while Sequoia is contributing $800 million. Binance has committed $500 million.
The happy prince
Among the big names, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has pledged to buy 34,948,975 shares, worth around $1.7 billion.
Alsaud, who is already an investor in Twitter, had earlier said in Twitter post that Musk’s $54.20 per share offer, did not come close to the “intrinsic value” of the company given its “growth prospects.”
“Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer,” he tweeted.
Other equity investors include -
A.M. Management & Consulting
$25,000,000
AH Capital Management, L.L.C. (a16z)
$400,000,000
Aliya Capital Partners LLC
$360,000,000
BAMCO, Inc. (Baron)
$100,000,000
Binance
$500,000,000
Brookfield
$250,000,000
DFJ Growth IV Partners, LLC
$100,000,000
Fidelity Management & Research Company LLC
$316,139,386
Honeycomb Asset Management LP
$5,000,000
Key Wealth Advisors LLC
$30,000,000
Lawrence J. Ellison Revocable Trust
$1,000,000,000
Litani Ventures
$25,000,000
Qatar Holding LLC
$375,000,000
Sequoia Capital Fund, L.P.
$800,000,000
Strauss Capital LLC
$150,000,000
Tresser Blvd 402 LLC (Cartenna)
$8,500,000
VyCapital
$700,000,000
Witkoff Capital
$100,000,000
In the company’s latest earnings report, Twitter hit 229 million monetizable daily active users, a 15.9% increase from the same period last year.
Source - SEC
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