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Musk Protects Over $7 Billion Financing From Investors Consisting Of Larry Ellison|Investing News


May 5, 2022
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( Reuters) – Elon Musk has actually protected $7.14 billion in financing from a group of financiers that consists of Oracle Corp co-founder Larry Ellison to money his $44 billion takeover of social-media platform Twitter Inc, according to a filing on Thursday.

Musk exposed in a filing he had actually gotten equity dedication letters from financiers consisting of Sequoia Capital, Brookfield, Qatar Holding and others.

The relocation comes as Musk’s margin loan was minimized to $6.25 billion from $12.5 billion revealed previously, the filing exposed.

Musk will continue to hold talks with existing holders of Twitter, consisting of the business’s previous chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing revealed.

Reuters recently reported Musk remained in talks with big financial investment companies and high net-worth people about handling more funding for his Twitter acquisition and binding less of his wealth in the offer.

( Reporting by Nivedita Balu in Bengaluru; Modifying by Shounak Dasgupta)

Copyright 2022 Thomson Reuters

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