Elon Musk raises $7 billion to buy Twitter

Elon Musk says he is in discussions to bring more investors into the takeover of Twitter.

AP - Hannibal Hanschke

Text by: RFI Follow

2 mins

Elon Musk says he is in discussions to bring more investors into the takeover of Twitter.

Nearly 20 of them will put their hands in their pockets, including high-flying personalities in the business world and even a cryptocurrency exchange platform, which Elon Musk and his libertarian spirit praises the merits.

This week, the social network accepted the Tesla CEO and SpaceX's acquisition offer for $44 billion, the largest amount of money on the table for a social network. 

Advertisement

Read more

According to Elon Musk, more than $7 billion in total will be contributed by Saudi Prince Al-Walid Bin Talal, the biggest contributor, by Larry Ellison, the co-founder of the computer giant Oracle, and by Binance, the Chinese giant. cryptocurrency exchange (owned by developer Changpeng Zhao).

Sixteen other new investors will also support the takeover of the blue bird network. 

► To read also: 

The Chinese cryptocurrency giant Binance authorized in France

The Saudi prince will make his Twitter shares valued at nearly $2 billion available.

Larry Ellison, who sits on the board of directors of Tesla, will contribute a billion dollars.

Investment funds like Sequoia Capital, Vy Capital and Brookfield will bring together two billion dollars.

The $7 billion raised will halve the amount of bank loans Elon Musk has secured from Stanley Morgan and other banks, as well as the billions of dollars in cash he has invested by selling, among others, Tesla shares.

► To read also: In the United States, the wealthy Elon Musk officially buys Twitter

Elon Musk, who wants to make the social network " 

an open arena for freedom of expression 

", by easing the rules of moderation, is looking for other investors in order to take on less debt and has promised to attract them a return to the stock market of Twitter within a few years.

► Also to listen: 

Elon Musk, a desire for influence

Newsletter

Receive all the international news directly in your mailbox

I subscribe

Follow all the international news by downloading the RFI application

google-play-badge_EN

  • Twitter

  • Elon Musk

Keywords: