Crypto assets exchange Binance is part of the group of investors that will support Elon Musk’s purchase of Twitter. In total, the billionaire will pay US$ 44 billion for the social network.
More than twenty investors participate in the group that will back Elon Musk. In addition to Binance, Fidelity will also invest in Twitter’s purchase. The group has raised US$ 7.1 billion.
The group’s largest investor is Oracle co-founder Larry Ellison. He alone has invested US$ 1 billion in the acquisition of the social network. The company Sequoia, for instance, will invest US$ 800 million.
Another significant investor in the business is VyCapital, which will disburse US$ 700 million. Binance is also among Twitter’s main investors, with a US$500 million capital input.
Elon Musk to buy Twitter
According to a document released last week, Andreessen Horowitz will take a US$400 million stake in Twitter. The company’s co-founder, Andreessen Horowitz, said on Twitter that Elon Musk would be able to lead the social network with “brilliance”.
“Elon is the only person we know and perhaps the only person in the world who has the courage, brilliance, and skills to fix all of this and build the public square we all hoped for and deserved”.
Recently, Musk said that other investors may be part of Twitter, such as the platform’s co-founder Jack Dorsey. In addition to the group of investors, Elon Musk had requested a US$12.5 billion loan from the bank Morgan Stanley.
However, the billionaire Tesla creator has already halved the loan request and will now need US$ 6.25 billion to finish the Twitter purchase.
Personally, Elon Musk will invest US$ 27.25 billion to acquire the social network. Thus, in the last month, he has sold more than US$ 8 billion in Tesla stocks to get enough money for the Twitter purchase.