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Veronika Szűcs Rajničová
May 6, 2022, 11:05am
Reading time: 0:45

Musk Gathers Billions For Twitter. The Founder Of Oracle And The Prince Of Saudi Arabia Promised Him Investments

The richest person in the world wants to make a few changes after taking over Twitter. Not everyone is excited about it.

Veronika Szűcs Rajničová
May 6, 2022, 11:05am
Reading time: 0:45
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Musk Gathers Billions For Twitter. The Founder Of Oracle And The Prince Of Saudi Arabia Promised Him Investments
Zdroj: Getty Images/NDZ/Star Max/GC Images
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A report to the US Securities and Exchange Commission (SEC) by Elon Musk showed that the founder of Tesla has so far raised $ 7.14 billion (6.78 billion euros) for Twitter. The total price for the social network is $ 44 billion (€ 41.76 billion). He doesn't have it all in his own pocket.

 

Oracle's co-founder Larry Ellison, the Binance crypto-currency exchange and the investment companies Fidelity, Brookfield and Sequoia Capital, promised him the money. Saudi Prince Valid bin Talal, who has already invested in Twitter, has promised to invest 35 million in shares to keep the stake in the company.

 

Source: TASR/AP/Gian Ehrenzeller/Keystone

 

 

The New York Times reports that Musk is also negotiating with Twitter's co-founder Jack Dorsey and with the company Andreessen Horowitz, which promised $ 400 million (€ 379.63 million). The promised investment can significantly reduce the so-called margin loan that Musk obtained to buy Twitter.

 

Musk wants to make some changes after taking over Twitter. Not everyone is excited about it. Microsoft co-founder Bill Gates warned on Wednesday that it was unclear how the platform would change under his leadership, and expressed concern about the spread of misinformation on social media.

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Thumbnail: Getty Images/NDZ/Star Max/GC Images
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