Wall Street, tech investors back Musk Twitter bid with $7B
ABC News
Elon Musk has strengthened the equity stake in his offer to buy Twitter with commitments of more than $7 billion from a range of investors, including Oracle co-founder and Tesla board member Larry Ellison
Elon Musk has strengthened the equity stake in his $44 billion offer to buy Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.
A regulatory filing Thursday also said that Musk is in talks with others for additional funding, including former Twitter CEO Jack Dorsey, the social media platform's second-largest individual stakeholder after Musk.
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.
Other investors include tech investor Sequoia Capital Fund, which pledged $800 million, and VyCapital, which committed to $700 million, according to the filing with the U.S. Securities and Exchange Commission.