Elon Musk teamed up with Larry Ellison, Qatar and an Arab prince in his bid to take over Twitter | Economie
Elon Musk has found diverse travel companions in his Twitter takeover bid. The participation of a group of 19 investors will allow you to save about 7000 million dollars (about 6600 million euros) Of the 44,000 she has encrypted her show through the social network. between Notified the list of investors By Musk to the US Securities and Exchange Commission (SEC, for short in English) from the US on Thursday morning, they are from tycoons like Larry Ellison to classics from the world of institutional investing, passing through the sovereign wealth fund of Qatar and Saudi Prince Alwaleed bin Talal bin Abdulaziz Al Saud .
Prince Alwaleed is actually a shareholder in Twitter and what he will do is contribute 35 million shares of the social network to the investment vehicle being created with the company. Thus, it is the largest partner that Musk has, with an estimated investment value of about $1900 million. He is followed by Larry Ellison, founder and principal shareholder of Oracle, with $1,000 million. Sequoia, one of the venture capital giants, will contribute 800 million; Dubai-based tech fund VyCapital, another 700, and crypto exchange Binance, another $500 million.
Musk is trying to persuade more investors to take part in the show, including Twitter founder, Jack Dorsey, as revealed in The document registered with the SEC. Dorsey owns approximately 2.3% of the company, from which he would receive just over $1,000 million if he accepted the offer of the richest man in the world.
The partners have already confirmed that they will allow Musk to cut nearly $7,000 million in funding he received to fund the takeover bid. Now the structure consists of $27.25 billion contributed by investors (the vast majority of Musk), another $6.25 billion guaranteed by Tesla stock (this figure has been reduced from $12.5 billion) and $13 billion backed by the company’s own assets.
However, it is not entirely clear how Musk will fund his personal contribution. The billionaire sold Tesla shares for about 8,500 million euros, But that wasn’t enough, according to analysts who monitor his fortune. This is why it has been recognized that he will be looking for new investors, something he continues to do. Limiting the guaranteed equity financing allows Tesla to sell more shares of the electric car maker, but Musk said he has no plans to do so.
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