April 18, 2024

Cyprus Mail
BusinessInternationalTech & Science

How is Elon Musk funding his $44 bln offer to buy Twitter

By Reuters News Service0468
musk twittere tesla takeover elon

Elon Musk has won the backing of some of the world’s wealthiest investors for his $44 billion takeover of Twitter Inc (TWTR.N).

From Oracle Corp’s (ORCL.N) co-founder Larry Ellison, a self-proclaimed close friend of Musk, to Saudi Arabian investor Prince Alwaleed bin Talal, who had earlier rejected the takeover bid, a bunch of investors have now thrown their weight behind the offer.

Here’s how the deal stacks up:

** Musk increased his financing commitment to $27.25 billion, from $21 billion – including the new $7.14 billion funding announced on Thursday

** The margin loan from Morgan Stanley tied to his Tesla (TSLA.O) stock stands at $6.25 billion, down from $12.5 billion announced on April 21

** Musk has secured commitments from banks for $13 billion in loans secured against Twitter shares

twitter chart 1

Following is a list of investors who have together promised about $7 billion in funding, according to a filing on Thursday:

Equity Investor
Description
Equity Commitment
A.M. Management & Consulting
–
$25 million
AH Capital Management
VC firm founded by Marc Andreessen and Ben Horowitz
$400 million
Aliya Capital Partners
SpaceX investor
$360 million
BAMCO
Investment adviser
$100 million
Binance
Cryptocurrency firm
$500 million
Brookfield
Canadian investment firm with over $690 billion assets under management
$250 million
DFJ Growth IV Partners
Tesla, SolarCity, SpaceX and The Boring Company investor
$100 million
Fidelity Management & Research Company
Acts as the investment advisor to Fidelity’s family of mutual funds
$316 million
Honeycomb Asset Management
Private investment firm led by Chief Investment Officer David Fiszel
$5 million
Key Wealth Advisors
$30 million
Lawrence J. Ellison Revocable Trust
Oracle co-founder Larry Ellison’s trust
$1 billion
Litani Ventures
Chicago-based VC firm
$25 million
Qatar Holding
Investment house founded by Qatar Investment Authority
$375 million
Sequoia Capital Fund
Invested in The Boring Company
$800 million
Strauss Capital LLC
–
$150 million
Tresser Blvd 402 LLC (Cartenna)
–
$8.5 million
VyCapital
Invested in The Boring Company
$700 million
Witkoff Capital
New York-based real estate tycoon Steven Witkoff’s firm
$100 million
Saudi Arabian investor Prince Alwaleed bin Talal
Twitter investor
$1.89 billion (34,948,975 shares)
Follow the Cyprus Mail on Google News

Related Posts

Winners of Stelios bicommunal awards announced

Tom Cleaver

Electricity authority finds illegal solar installations

Staff Reporter

Cyprus sees ‘one of the largest increases’ in renewable energy share

Tom Cleaver

“Nurturing the talents of tomorrow”: Adsterra Backs Up the 2nd Youth Tech Fest Cyprus 2024

Souzana Psara

Comparing European loans: What borrowers need to know

CM Guest Columnist

Oil extends losses on easing Middle East tension, demand concerns

Reuters News Service
@2018 - PenNews. All Right Reserved. Designed and Developed by PenciDesign