Elon Musk has added more than a dozen new individuals and investments firms to his $44 billion proposal to buy Twitter, including Oracle founder Larry Ellison, Saudi’s Prince Alwaleed and Binance, the Chinese crypto exchange.
A new SEC filing shows that Musk has received $7.1 billion from the group in equity commitments. It reduces the financial strain on his fortune. Musk can now use less debt because of these co-investors. This is in addition to the high Tesla stock prices.
Musk continues to work with Jack Dorsey (the Twitter founder and former CEO who is still a member of the board) to discuss possible participation in Musk’s bid. Dorsey has voiced public support for Musk’s takeover even though it may substantially change the company’s direction, a path Dorsey himself had set for it the company as CEO through last November.