Factbox-How is Elon Musk funding his $44 billion offer to buy Twitter
An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) -Elon Musk has won the backing of some of the world's wealthiest investors for his $44 billion takeover of Twitter Inc.
From Oracle Corp's 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 had thrown their weight behind the offer.
Musk on Wednesday pledged an additional $6.25 billion in equity financing, reducing the billionaire's margin loan against his Tesla Inc shares to zero.
Here's how the deal stacks up:
** Musk increased his financing commitment to $33.5 billion, from $27.25 billion - including the $7.14 billion funding announced earlier in May.
** The margin loan from Morgan Stanley tied to his Tesla stock, which stood at $6.25 billion, has now been removed from the financing equation.
** Musk has secured commitments from banks for $13 billion in loans secured against Twitter shares
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 & - $25 million
Consulting
AH Capital Management VC firm founded by Marc $400 million
Andreessen and Ben Horowitz
Aliya Capital SpaceX investor $360 million
Partners
BAMCO Investment adviser $100 million
Binance Cryptocurrency firm $500 million
Brookfield Canadian investment firm $250 million
with over $690 billion
assets under management
DFJ Growth IV Tesla, SolarCity, SpaceX $100 million
Partners and The Boring Company
investor
Fidelity Management & Acts as the investment $316 million
Research Company advisor to Fidelity's
family of mutual funds
Honeycomb Asset Private investment firm led $5 million
Management by Chief Investment Officer
David Fiszel
Key Wealth Advisors $30 million
Lawrence J. Ellison Oracle co-founder Larry $1 billion
Revocable Trust Ellison's trust
Litani Ventures Chicago-based VC firm $25 million
Qatar Holding Investment house founded by $375 million
Qatar Investment Authority
Sequoia Capital Fund Invested in The Boring $800 million
Company
Strauss Capital LLC - $150 million
Tresser Blvd 402 LLC - $8.5 million
(Cartenna)
VyCapital Invested in The Boring $700 million
Company
Witkoff Capital New York-based real estate $100 million
tycoon Steven Witkoff's
firm
Saudi Arabian Twitter investor $1.89 billion (34,948,975
investor Prince shares)
Alwaleed bin Talal
How Elon Musk plans to fund his Twitter dealhttps://tmsnrt.rs/3MVjG3Mimage/pnggraphics:graphic:1https://graphics.reuters.com/MUSK-TWITTER/zgvomlewlvd/chart.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GXID:zgvomlewlvdHow Elon Musk plans to fund his Twitter dealhttps://tmsnrt.rs/3OZyRLutext/htmlgraphics:graphic:1https://graphics.reuters.com/MUSK-TWITTER/gdpzyaerbvw/index.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GXID:gdpzyaerbvw
(Reporting by Akash Sriram, Sweta Singh, Nivedita Balu and Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Uber (UBER) Reiterated at Market Outperform by Citizens as AV Partners Make Progress
- SpaceX to build $100 billion Starship rocket complex in Louisiana
- China, India hold border talks, agree to continue search for boundary settlement
Create E-mail Alert Related Categories
ReutersRelated Entities
Morgan Stanley, Prince Alwaleed bin Talal, Draper Fisher Jurvetson, Sequoia Capital, Twitter, Tesla, Larry EllisonSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share