Elon Musk Gets $7 Billion in Fresh Financing for Twitter Deal
Posted on AllSides May 5th, 2022
From The Center
Elon Musk has assembled a group of investors including a Saudi prince, Larry Ellison and a bitcoin exchange to pony up more than $7 billion to back his bid to buy Twitter Inc. TWTR 3.65%▲
Tesla Inc.’s chief executive has received letters committing about $7.14 billion from a group of 19 investors. The biggest contribution comes from Prince al-Waleed bin Talal of Saudi Arabia, who agreed to retain a stake in Twitter valued at $1.9 billion following Mr. Musk’s takeover, the disclosure said.
The new money will cut in half the amount Mr. Musk needs to borrow against his Tesla stake,...
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