Elon Musk receives about $7.1bn in new financing for Twitter – The National
- Date: 05-May-2022
- Source: The National
- Sector:Financial Markets
- Country:Qatar
Elon Musk receives about $7.1bn in new financing for Twitter – The National
Twitter shares jumped 3.3 per cent in premarket trading on Thursday after the world’s richest person Elon Musk said he has received more than $7.1 billion in new equity funding to help finance his $44bn acquisition of the social media company.
In a regulatory filing to the US Securities and Exchange Commission, Mr Musk said he has received equity commitment letters from various investors, including Sequoia Capital, Binance, Litani Ventures, Qatar Holdings and Brookfield. This also include $1bn contribution from Larry Elison, founder of Texas-based technology company Oracle.
Nearly 18 investors have made commitments ranging between $850,000 and $1bn, according to the filing.
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