Elon Musk Receives $7 Billion from Investors for Twitter Buyout Deal

Tesla CEO Elon Musk has reportedly received commitments from investors offering more than $7 billion to boost the equity of his offer to purchase Twitter. Among the notable investors are Oracle co-founder Larry Ellison and Prince Alwaleed Bin Talal of Saudi Arabia, who has committed 35 million current shares of Twitter towards the private company.

The Wall Street Journal reports that Tesla CEO Elon Musk has stated that he has received letters from investors committing more than $7 billion in new investments to boost the equity portion of his offer to purchase Twitter. According to a recent regulatory filing, Musk has received letters committing approximately $7.14 billion from 19 investors, including Sequoia Capital, Oracle Corp. co-founder Larry Ellison and VyCapital.

The disclosure further revealed that Prince Alwaleed Bin Talal of Saudi Arabia has agreed to commit almost 35 million shares in Twitter in order to retain an investment in the company. Musk noted that he plans to bring more current Twitter shareholders into the company following his takeover, including company co-founder Jack Dorsey who has been vocally supportive of Musk’s efforts to take Twitter private.

Musk noted in the filing that as a result of the new financing, the $12.5 billion margin loan he had received to purchase Twitter would be reduced to $6.25 billion and the takeover will be financed by $27.27 billion in equity and cash.

Breitbart News recently reported that Musk has agreed to take Twitter private in a deal worth $44 billion, but is already telling potential investors that he could see the company being taken public again after just a few years. Musk reportedly plans to stage an IPO for Twitter in as little as three years after purchasing the firm, according to sources.

Recently leaked internal communications between Twitter employees reveal that many are panicked and angry about Tesla CEO Elon Musk’s takeover of the company.

Read more at the Wall Street Journal here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com