{"id":14229,"date":"2022-05-10T07:26:22","date_gmt":"2022-05-10T07:26:22","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/musk-secures-over-7-bln-funding-from-investors-including-larry-ellison"},"modified":"2022-05-10T08:10:06","modified_gmt":"2022-05-10T08:10:06","slug":"musk-secures-over-7-bln-funding-from-investors-including-larry-ellison","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/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 – Lesotho. <\/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. 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. 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. 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 Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. 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 […]<\/p>\n","protected":false},"author":84,"featured_media":14228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9,16],"tags":[233,246,1824,245],"class_list":["post-14229","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-lesotho","tag-larry-ellison","tag-lesotho"],"yoast_head":"\nMusk secures over $7 bln funding from investors including Larry Ellison - Lesotho<\/title>\n<meta name=\"description\" content=\"14 billion in funding from a group of investors that includes Oracle Corp (ORCL. 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