Elon Musk, the billionaire, has recently lined up 19 fresh investors to assist with his $44 billion (£35.5 billion) purchase of the social media platform Twitter.
The commitments, totaling $7.1 billion, will let Mr. Musk relieve his stake in the deal, supported and approved by Twitter’s board but not completed yet. Mr. Musk’s friend and Oracle co-founder, Larry Ellison, is the most significant contributor supporter with $1 billion. Other investors who joined Mr. Musk are renowned crypto exchange Binance and Silicon Valley venture company Sequoia Capital.
There is still some uncertainty that Mr. Musk-also chief executive of rocket company SpaceX and electric car maker Tesla-will draw off his planned buyout. Elon, who is ranked as the richest person globally and is tied to the value of his stakes in Tesla, has stated he intends to finance the asset through a combination of investments, cash, and loans.
In the present weeks, Elon sold about $8.5 billion worth of Tesla shares, and predictors are expecting money to be utilized to finance the deal. He has lined up $13 billion in loans from banks and borrows against his Tesla holdings. According to the government filing, the new $7.1 billion commitment will permit him to facilitate that debt from an initially proposed $12.5 billion to $6.25 billion.
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