Oracle founder, Sequioa, Binance, a16z, others put up $7.1 billion to support Elon Musk’s Twitter purchase

Oracle founder, Sequioa, Binance, a16z, others put up $7.1 billion to support Elon Musk’s Twitter purchase

Regulatory fillings show that a group of notable investors have provided $7.1 billion to Elon Musk in support of his $44 billion acquisition of Twitter. The highest investor as at the time of writing this article, is Oracle co-founder Larry Ellison, who is also an investor in Tesla. Through the Lawrence J Ellison Revocable Fund, he donated $1 million.

Other investors include Sequioa Capital with $800,000, VyCapital with $700,000, Binance with $500,000 and Andreessen Horowitz with $400 million amongst others.

Binance stated in a tweet that “#Binance has committed $500 million to invest in #Twitter alongside @elonmusk‘s buyout of the social media service. “We’re excited to be able to help Elon realize a new vision for Twitter” – @cz_binance shares.”

“We’re excited to be able to help Elon realize a new vision for Twitter,” Changpeng Zhao, Binance’s CEO said.”We hope to be able to play a role in bringing social media and web3 together and broadening the use and adoption of crypto and blockchain technology.”

According to Ben Horowitz, co-founder and general partner at Andreessen Horowitz, in a tweet,

“First some news, we are joining Elon Musk’s bid for Twitter and investing $400MM into the company.”

“We invested, because we believe in Ev and Jack’s vision to connect the world and we believe in Elon’s brilliance to finally make it what it was meant to be.”

The new infusion of funds will certainly reduce the $12.5 billion margin loan he had received from Morgan Stanley and other banks, cutting it down to $6.25 billion. He also increased his total equity commitment to $27.25 billion.

Elon Musk is said to be negotiating with Jack Dorsey, the Twitter cofounder and ex-CEO who remains a board member, to possibly take part in his bid, too. Jack has publicly shown support for Musk’s bid.

The post Oracle founder, Sequioa, Binance, a16z, others put up $7.1 billion to support Elon Musk’s Twitter purchase appeared first on Innovation Village | Technology, Product Reviews, Business.



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