Elon Musk has raised $7.14 billion from a group of investors to help fund his $44 billion acquisition of Twitter, according to Bloomberg. Qatar Holding LLC has invested $375 million in Twitter, according to a filing by Musk with the US Securities and Exchange Commission (SEC). Qatar Investment Authority owns Qatar Holding LLC.

Musk was reportedly in talks with huge financial groups and high-net-worth individuals last week about taking on more funding for his Twitter acquisition and tying up less of his personal fortune in the deal, according to Reuters. With Thursday's news, Tesla CEO Elon Musk was able to decrease a $12.5 billion margin loan arrangement to $6.25 billion. Musk's $21 billion financing pledge was also increased to $27.25 billion.

Prince Alwaleed bin Talal, a Saudi Arabian investor who had initially opposed the takeover, has decided to roll his $1.89 billion holding into the deal. According to the SEC filing, Vy Capital, a Dubai-based investment business, spent $700 million in Twitter. Vy Capital focuses on investments in the internet industry. It's unclear how much power Musk's new equity partners will have over the platform; according to the filing, Qatar Holding would own about 1% of the private firm.

? Elon Musk gets $7 billion help for Twitter buyout.

New crew includes Larry Ellison, Qatar, Binance, Sequoia
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— Sridhar Natarajan (@sridinats) May 5, 2022

 

Before the bell, Twitter's stock was up 2.9 percent to $50.5, still behind Musk's offer of $54.20. According to the SEC filing, the cryptocurrency exchange Binance has also invested $500 million in Twitter. Binance is one of Israel's most well-known cryptocurrency exchanges.

According to the filing, Musk will continue to talk to existing Twitter shareholders, including the company's former CEO Jack Dorsey, about contributing shares to the potential acquisition.

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Source : CNBC

Cover Image Credit: BBC