Pakistan Christian TV

Breaking news and world news from Pakisthan Christian TV on Business, Sports, Culture. Video news. News from the US, Europe, Asia Pacific, Africa, Middle East, America.

Musk raised $7 billion to buy Twitter. Familiar names will help him

Elon Musk (Grünheide, March 17, 2021)
| Photo: Reuters

Larry Ellison, co-founder of Oracle, crypto exchange Binance, or investment firms Fidelity, Brookfield and Sequoia Capital, among others, has promised to provide funds to Musk. Saudi Prince Walid bin Talal, who has already invested in Twitter, promised to invest nearly 35 million shares to maintain the stake in the company. Musk has previously stated that he is negotiating with existing shareholders, including company founder Jack Dorsey.

Thanks to the investment promises obtained, Musk can reduce the so-called margin loan, which he took for the purchase of Twitter, from 12.5 billion to 6.25 billion dollars. In addition to the loan, the acquisition will finance $27.25 billion in stock and cash.

According to CNBC, Microsoft co-founder Bill Gates warned Wednesday that Twitter could be worse when Musk takes over. At a meeting of CEOs hosted by The Wall Street Journal (WSJ), Gates said it was unclear how Twitter would change under Musk’s ownership, and expressed concern about the spread of misinformation on social media.

See also  A ship from Hamburg to Pardubice? The Czech Republic and Germany Fira signed an agreement on Elbe . Maritime Navigation