Billionaire Elon Musk has strengthened the equity stake of his offer to buy Twitter with commitments of more than $7 billion from a range of investors, including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.
FILE - Elon Musk speaks at the SATELLITE Conference and Exhibition March 9, 2020, in Washington. Musk has strengthened the equity stake of his offer to buy Twitter with commitments of more than $7 billion from a range of investors, including Oracle co-founder Larry Ellison. In a regulatory filing, Twitter Inc. also disclosed that Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has pledged 35 million Twitter shares.
Ellison, who is also a board member of electric vehicle maker Tesla, is making the biggest contribution, pegged at $1 billion. Musk is Tesla's CEO and biggest shareholder. The high profile investors show"that it's not Musk single-handedly trying to turn around Twitter,” Ives said. Sequoia has invested in Zoom, DoorDash, Apple, Netflix and others. “We help the daring build legendary companies,” is a headline on its website.The firm has a long history with Musk. It was an early investor in what would become PayPal, which Musk co-founded and was sold for $1.5 billion in 2002.
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