Cryptocurrency billionaire Changpeng Zhao and Saudi Arabia’s Prince al-Waleed bin Talal investment are amongst the latest investors funding Elon Musk takeover of microblogging app, twitter.
Driving the news
While Changpeng Zhao, owner of crypto exchange Binance, invested $500,000 million to fund Elon Musk’s privatization of Twitter, Saudi Arabia’s Prince al-Waleed bin Talal investment, retained the $1.9 billion stakes already held through the Kingdom Holding Company.
- Companies contributing to the takeover include Lawrence J. Ellison Revocable Trust ($1,000,000,000), Sequoia Capital Fund, L.P. ($800,000,000), VyCapital ($700,000,000), and AH Capital Management, L.L.C. (a16z) ($400,000,000).
- Qatar Holding LLC ($375,000,000), Aliya Capital Partners LLC ($360,000,000), Fidelity Management & Research Company LLC ($316,139,386), Brookfield ($250,000,000) and Strauss Capital LLC ($150,000,000).
- Also on the list are BAMCO, Inc. (Baron) ($100,000,000), DFJ Growth IV, Partners, LLC ($100,000,000), Witkoff Capital ($100,000,000), Key Wealth Advisors LLC ($30,000,000), A.M. Management & Consulting, ($25,000,000), Litani Ventures ($25,000,000), Tresser Blvd 402 LLC (Cartenna)($8,500,000), and Honeycomb Asset Management LP ($5,000,000).
In case you missed it
- Twitter’s board of directors accepted Elon Musk’s $43 billion bid to privatize the company just after acquiring 9.1% of stake in the company.
- The world’s richest man hinted upon complete acquisition of the company, the platform would be free to casual users but government and commercial users would have to pay a fee.
State of play
Elon Musk secured $7.1 billion of the proposed $43 billion for the financing of the acquisition of Twitter Inc. on Thursday. Tesla’s CEO has pledged $21 billion worth of equity to support the $8.5 billion of Tesla stock already sold to finance the deal.
What they are saying
Elon Musk is currently in talks with Twitter’s co-founder, Jack Dorsey, to contribute some of his stocks to aid the takeover.