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,...

Read full story
Some content from this outlet may be limited or behind a paywall.

Wall Street Journal (News)

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
See full bias rating for Wall Street Journal (News)
Learn about media bias

More News about Business from the Left, Center and Right

From the Left

From the Center

From the Right