{"id":4404,"date":"2022-05-09T15:03:29","date_gmt":"2022-05-09T15:03:29","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/musk-secures-over-7-bln-funding-from-investors-including-larry-ellison"},"modified":"2022-05-09T15:26:35","modified_gmt":"2022-05-09T15:26:35","slug":"musk-secures-over-7-bln-funding-from-investors-including-larry-ellison","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/musk-secures-over-7-bln-funding-from-investors-including-larry-ellison","title":{"rendered":"Musk secures over $7 bln funding from investors including Larry Ellison"},"content":{"rendered":"

Africa-Press – Cape verde. <\/strong><\/span>14 billion in funding from a group of investors that includes Oracle Corp (ORCL.N) co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter Inc (TWTR.N), according to a filing on Thursday.<\/p>\n

Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.89 billion stake into the deal rather than cashing out, the filing showed.<\/p>\n

The move comes as Musk\u2019s margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, according to the filing.<\/p>\n

Musk\u2019s $21 billion financing commitment was also revised to $27.25 billion.<\/p>\n

Musk will continue to hold talks with existing shareholders of Twitter, including the company\u2019s former chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing showed.<\/p>\n

Qatar Holding and Dubai-based Vy Capital, also an investor in Musk\u2019s other venture The Boring Company, are also part of the investor group.<\/p>\n

Reuters last week reported Musk was in talks with large investment firms and high net-worth individuals about taking on more financing for his Twitter acquisition and tying up less of his wealth in the deal.<\/p>\n

Larry Ellison, a board member at Tesla and a self-described close friend of Elon Musk has committed $1 billion for the funding.<\/p>\n

Twitter\u2019s shares were up about 2.9% at $50.5 before the bell, still below Musk\u2019s offer of $54.20.<\/p>\n

For More News And Analysis About Cape verde<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Cape verde. 14 billion in funding from a group of investors that includes Oracle Corp (ORCL.N) co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter Inc (TWTR.N), according to a filing on Thursday. Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed […]<\/p>\n","protected":false},"author":84,"featured_media":4403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9,16],"tags":[233,331,281,328,283],"class_list":["post-4404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","category-twitter","tag-africa-press","tag-africa-press-cape-verde","tag-africa-press-mozambique","tag-cape-verde","tag-mozambique"],"yoast_head":"\nMusk secures over $7 bln funding from investors including Larry Ellison - Cape Verde<\/title>\n<meta name=\"description\" content=\"14 billion in funding from a group of investors that includes Oracle Corp (ORCL.N) co-founder Larry Ellison and Sequoia ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/musk-secures-over-7-bln-funding-from-investors-including-larry-ellison\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Musk secures over $7 bln funding from investors including Larry Ellison - 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