May 9, 2022 · less than 3 min read
Meet the 19 investors who are handing Elon an extra $7 billion in financing.
Friends in high places
Elon Musk is buying Twitter. Haven’t you heard?
Of course you’ve heard. And luckily for Elon, you’re not the only one. In a recent filing, Musk has noted that his offer to buy the social media platform has attracted more than $7 billion in new financing from a host of big-bucks investors. Unsurprising that the richest man in the world has other rich friends, right? And who can blame them for hopping onto his latest exploit – it’s gotta be worth a shot.
Who’s on the guestlist?
So, who are the big names on Elon’s new list of best buds? For starters, Oracle Corp’s co-founder and board member, Larry Ellison, has planted a cool $1 billion on the table, along with $800 million from Sequoia Capital Fund and $700 million from VyCapital.
Naturally, the ears of the crypto world have pricked up at Musk’s Twitter bid, manifesting in a $500 million promise from Binance’s CEO Changpeng Zhao. In a tweet, he called it a “small contribution to the cause”. Smooth.
Those who stay are just as important as those who join, and Elon will be gleeful in receiving backing from Saudi Prince Alwaleed Bin Talal. Currently a shareholder in Twitter, he has pledged to maintain his $1.9 billion stake – despite initially rejecting the takeover. Calling Elon his “new friend” and an “excellent leader”, it looks like Musk’s charm has won him round.
But are these investment offers merely a monetary gift to Musk? Because, you know, he really needs the cash. Not likely. Instead, it looks like everyone is trying to buy their way to a seat at Twitter’s top table.
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