Elon Musk Secures Over $7 Billion More in Twitter Funding

Video Credit: Wibbitz Top Stories
Published on May 5, 2022 - Duration: 01:30s

Elon Musk Secures Over $7 Billion More in Twitter Funding

Elon Musk Secures , Over $7 Billion More in Twitter Funding.

CNBC reports that according to an SEC filing on May 5, Musk has procured another $7.14 billion from a group of investors to buy Twitter.

Some of the investors include Oracle co-founder Larry Ellison... .

... and Saudi Arabian Prince Alwaleed bin Talal Al Saud, who initially objected to the buyout but has seemingly been convinced to invest.

... and Saudi Arabian Prince Alwaleed bin Talal Al Saud, who initially objected to the buyout but has seemingly been convinced to invest.

Qatar Holding and Vy Capital are part of the investor group as well.

CNBC reports that according to the filing, Musk's margin loan has been reduced to $6.25 billion.

His financing commitment was also updated to $27.25 billion.

CNBC reports that Musk will continue talking with Twitter shareholders, including Jack Dorsey, in an attempt to contribute shares to the acquisition.

CNBC reports that Musk will continue talking with Twitter shareholders, including Jack Dorsey, in an attempt to contribute shares to the acquisition.

On May 5, Twitter shares were up about 2.9% before the opening bell.

Still, shares remain below Musk’s offer of $54.20 as investors are unsure if the deal will actually go through


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