Elon Musk has received $7.1 billion in new financing for his acquisition of twitter - according to CNBC, he will play the role of "interim CEO" after completing the transaction - this round of financing sometimes comes from a group of well-known external investors. At number one was Larry Ellison, the co-founder and current chief technology officer of Oracle, who promised $1 billion for the acquisition.
Ellison has said that he and musk are "very close friends", and he joined Tesla's board of directors in 2018. As one of the richest people in the world, he shares this super honor with musk: sitting on an estimated net worth of more than $100 billion, so this investment is a relatively small sum for him. As early as 2012, Ellison bought almost the entire island of Lanai in Hawaii for about $500 million.
The new list of investors also includes Andreessen Horowitz, a venture capital company, fidelity, a financial company, binance, a cryptocurrency exchange, and Qatar's national investment company.
Saudi prince alwalid bin Talal also agreed to continue investing in twitter after the deal, although he initially said Musk's offer was not "close to the intrinsic value of twitter" and said he would refuse to buy it. With the completion of the merger, his nearly $1.9 billion stake in twitter will be converted into an investment in the private company.
Musk reached an agreement with Twitter last week to privatize the company for $44 billion. The new capital allows musk to invest less of his wealth in the transaction, which may be important for him, because most of the money is tied to Tesla's shares.
The acquisition is expected to be completed later this year. So far, musk has provided vague details on how he will change twitter, from "authenticating all humans" to separating its business from advertising. Mainly, he said he wanted the platform to become a platform for free speech, although it was unclear what it meant in practice.
Twitter is not the way to make money, musk said. However, it is reported that he is also considering layoffs and charging enterprises and governments for using the platform.