Elon Musk was able to obtain $7.1 billion in funding for his acquisition of Twitter -the deal, which CNBC reports will see him assume the position of “temporary CEO” — with the latest round of financing being provided by an array of high-profile outside investors. On the most prominent spot is Larry Ellison, with the co-founder and CTO of Oracle committed to $1 billion for the acquisition.
Ellison sits on the Board of Tesla alongside Musk and is described as a close associate of the wealthiest man on earth. Vy Capital is also an investor in one of Musk’s startups, The Boring Company which has recently raised $675 million.
Musk is expected to continue to talk to the shareholders who are currently holding shares of Twitter as well as the former chief Jack Dorsey, to contribute shares to the acquisition, as the filing indicated.
The latest list of shareholders also comprises the venture capital company Andreessen Horowitz, the financial firm Fidelity and the cryptocurrency exchange Binance as well as Qatar’s state-owned investment firm. Qatar.
Twitter’s shares were trading up 2.9 percent at $50.5 just before the bell rang however, they were still well below Musk’s price of $54.20.