Billionaire businessman Elon Musk has secured more than $7.1 billion in new equity funding from a group of investors to help finance his $44bn acquisition of Twitter. Last month, Twitter entered a definitive agreement to be acquired by an entity wholly-owned by Mr Musk, for $54.20 per share in cash. Mr Ellison, who also sits on Tesla’s board and is a good friend of Mr Musk, is shelling out the biggest share among the 18 investors. BinanceThe world’s largest cryptocurrency exchange, Binance, has committed an investment of $500 million in Mr Musk’s Twitter takeover. Sequoia CapitalAnother investor in Mr Musk’s Boring Company, California-based venture capital firm Sequoia Capital, has pledged $800m for the Twitter deal.

Source: Ethiopian News May 07, 2022 05:06 UTC