TechHR
ex
L&D
UNPLUGGED
Sphere
About Us • Contact Us
People Matters Logo
Login / Signup
People Matters Logo
Login / Signup
  • Current
  • Top Stories
  • News
  • Magazine
  • Research
  • Events
  • Videos
  • Webinars
  • Podcast

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

 

 

  • HotTopic
    LeadersSpeak
  • Strategy
    Leadership Csuite StrategicHR EmployeeRelations
  • Recruitment
    Employer Branding Appointments Permanent Hiring Recruitment
  • Performance
    Skilling PerformanceMgmt Compensation Benefits L&D Employee Engagement
  • Culture
    Culture Life@Work Diversity Watercooler SheMatters
  • Tech
    Technology HR Technology Funding & Investment Startups Metaverse
  • About Us
  • Advertise with us
  • Become a sponsor
  • Contact Us
  • Feedback
  • Submission Guidelines

Follow us:

Privacy Policy • Terms of Use

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

People Matters Logo
  • Current
  • Top Stories
  • News
  • Magazine
  • Research
  • Events
  • Videos
  • Webinars
  • Podcast
Login / Signup

Categories:

  • HotTopic
    LeadersSpeak
  • Strategy
    Leadership Csuite StrategicHR EmployeeRelations
  • Recruitment
    Employer Branding Appointments Permanent Hiring Recruitment
  • Performance
    Skilling PerformanceMgmt Compensation Benefits L&D Employee Engagement
  • Culture
    Culture Life@Work Diversity Watercooler SheMatters
  • Tech
    Technology HR Technology Funding & Investment Startups Metaverse
Elon Musk secures $7.1 billion in new financing for Twitter deal

Story • 6th May 2022 • 2 Min Read

Elon Musk secures $7.1 billion in new financing for Twitter deal

TechnologyFunding & Investment

Author: Mastufa Ahmed Mastufa Ahmed
2.9K Reads
Nineteen investors have joined the Tesla CEO's bid to buy Twitter, including a Saudi prince, Larry Ellison and the founder of a bitcoin exchange.

Elon Musk has secured about $7.1 billion from former Oracle CEO Larry Ellison, a Saudi prince, and Sequoia Capital to fund his proposed $44-billion acquisition of Twitter, according to media reports.

The Tesla CEO is arranging capital for the biggest takeover in the tech industry by receiving equity commitments from 19 investors.

Musk, the world’s richest man, had previously stated that he intended to fund the transaction in part with a $12.5 billion loan secured against his shares in Tesla, the US-based electric carmaker founded in 2003.

Musk will be able to cut the size of his margin loan by half, to $6.25 billion, making the transaction less risky for both himself and his lenders.

Musk also intends to serve as Twitter's chief executive officer, at least temporarily, according to a report by CNBC.

According to an amended securities filing on Thursday, Saudi Prince Alwaleed bin Talal, chairman of the board at Kingdom Holding Company, made the largest contribution, agreeing to pledge nearly 35 million shares worth $1.9 billion in Twitter to hold a stake in the company following Musk's takeover.

“I believe you will be an excellent leader for Twitter to propel and maximise its great potential,” tweeted Alwaleed.

Ellison, the 77-year-old co-founder of Oracle, a software company, and a member of Tesla's board of directors, is bringing in $1 billion as part of the new funding lined up by Musk.

Binance Holdings, the world's largest crypto exchange, Brookfield Asset Management, Fidelity Management & Research, and Qatar Holding are among the other investors listed in the filing on Thursday.

Traditional asset managers, VC firms, boutique hedge funds, and one of the world's largest pools of capital are among Musk's latest backers. 

Qatar Holding, a subsidiary of Qatar's wealth fund, has reportedly committed $375 million to Elon Musk for his acquisition.

Read More

Did you find this article helpful?


You Might Also Like

Top tech firms come up short on digital inclusion

STORY • 14th Mar 2023 • 3 Min Read

Top tech firms come up short on digital inclusion

Technology#DEIB
Where are women in crypto putting their money?

STORY • 13th Mar 2023 • 3 Min Read

Where are women in crypto putting their money?

DiversityTechnology#DEIB#WomenofChange
Robot recruiters: Can AI hire the right people?

STORY • 13th Mar 2023 • 3 Min Read

Robot recruiters: Can AI hire the right people?

TechnologyRecruitmentHR Technology
NEXT STORY: Why it’s time for employers and recruiters to build a more candidate-friendly recruitment process

Trending Stories

  • design-thinking-hr

    Intel Co-Founder, pioneer of Moore's Law, Gordon Moore dies ...

  • design-thinking-hr

    How to handle a toxic boss

  • design-thinking-hr

    How to build a recession-proof career

  • design-thinking-hr

    Over 50% of Gen Z in the world suffer from poor mental healt...

Upcoming Event: View All

Event Title 29 Mar Webinar

2023 Employee Experience Trends

Free 11:00 AM AEST

People Matters Logo

Follow us:

Join our mailing list:

By clicking “Subscribe” button above, you are accepting our Terms & Conditions and Privacy Policy.

Company:

  • About Us
  • Advertise with us
  • Become a sponsor
  • Privacy Policy
  • Terms of Use

Contact:

  • Contact Us
  • Feedback
  • Submission Guidelines

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

Get the latest Articles, Insight, News & Trends from the world of Talent & Work. Subscribe now!
People Matters Logo

Welcome Back!

Enter your registered email address to login

Not a user yet? Lets get you signed up!

A 5 digit OTP has been sent to your email address.

This is so we know it's you. Haven't received it yet? Resend the email or then change your email ID.

People Matters Logo

Welcome! Let's get you signed up...

Starting with the absolulte basics.

Already a user? Go ahead and login!

A 5 digit OTP has been sent to your email address.

This is so we know it's you. Haven't received it yet? Resend the email or then change your email ID.

Let's get to know you better

We'll never share your details with anyone, pinky swear.

And lastly...

Your official designation and company name.