The billionaire founder of Tesla Inc, Elon Musk, has raised over $7.1 billion from friends and investors to help acquire microblogging site, Twitter.
The details are contained in a filing on the United States Securities and Exchange Commission.
Musk agreed to buy Twitter for $44 billion in April, a deal that will ensure investors receive $54.20 for each share they own.
According to the SEC filing, Prince al-Waleed bin Talal of Saudi Arabia, who agreed to retain his nearly $1.9 billion stakes, is the biggest contributor.
Binance is the second-highest investor, with a $500 million in equity.
The investors and their commitments are as follows; A.M. Management & Consulting, $25,000,000 AH Capital Management, L.L.C. (a16z), $400,000,000 Binance, $500,000,000 Aliya Capital Partners LLC, $360,000,000 BAMCO, Inc. (Baron), $100,000,000 Brookfield, $250,000,000. DFJ Growth IV, Partners, LLC, $100,000,000 Fidelity Management & Research Company LLC, $316,139,386, and Honeycomb Asset Management LP, $5,000,000.
Others include; Key Wealth Advisors LLC, $30,000,000 Lawrence J. Ellison Revocable Trust, $1,000,000,000. Litani Ventures, $25,000,000 Qatar Holding LLC, $375,000,000 Sequoia Capital Fund, L.P., $800,000,000 Strauss Capital LLC, $150,000,000 Tresser Blvd 402 LLC (Cartenna), $8,500,000 VyCapital, $700,000,000, and Witkoff Capital, $100,000,000.
The new commitments will help Musk cut the margin loan he has taken from $12.5 billion to $6.25 billion.
(TheCable)
