Monday, November 28, 2022
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Binance is Among Investors in Musk’s Twitter Takeover

The $44bn buyout of Twitter by Elon Musk has raised $7.14bn in funding from investors including Oracle co-founder Larry Ellison, crypto exchange Binance and Sequoia Capital.

A total of $7.1 billion has been pledged by 19 different parties, with investment firm Fidelity contributing $316 million.

The world’s largest crypto exchange was among the equity investors in the deal, according to an updated Schedule 13D filing with the Securities and Exchange Commission (SEC) on Wednesday. When an entity acquires more than 5% of the equity in a company, a Schedule 13D must be filed with the SEC.

Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who has already invested in Twitter, will transfer 35mn shares to the bid vehicle, equivalent to a $1.9bn stake at the offer price.

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