Business Maverick: Elon Musk Secures $7.1 Billion in New Financing for Twitter

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Elon Musk has secured about $7.1 billion of new financing commitments, including from billionaire Larry Ellison, a Saudi Prince, and Sequoia Capital, to help fund his proposed $44 billion takeover of Twitter Inc.

Musk is also in discussions with Twitter co-founder Jack Dorsey on contributing some of his shares toward the acquisition.

Ben Horowitz, a general partner at Andreessen Horowitz, cited the work of Twitter founders Evan Williams and Dorsey as a reason. “We believe in Ev and Jack’s vision to connect the world and we believe in Elon’s brilliance to finally make it what it was meant to be.” Smaller investors include Witkoff Capital, the real estate-backed family office, and Cartenna Capital, a hedge fund set up by Peter Avellone, a former Millennium Management portfolio manager.

With more than 90 million followers on Twitter, Musk is one of the platform’s most prominent and outspoken users. He is known for sometimes cryptic or mysterious tweets, lobbed at all hours of the day, on everything from cryptocurrencies to space travel to whether Twitter should have an edit button.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Agreed, brilliant person. He makes changes for the better and don't wait for others

This man would never be able ti achieve what he did if he stayed in SA just shows you the difference in countries.

.elonmusk Elon Musk bought Twitter and inherits arguably two other properties: the HashTag-verse and the Trending-verse in a 3 for 1 mega-deal. Brilliant guy.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines