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5 May 2022

Elon Musk Acquires $7.1 Billion in New Funding for Twitter

The index Today

On Thursday, Twitter Inc. revealed through a filing that Elon Musk has obtained nearly $7.1 billion in funding in furthering his $44 billion acquisition of the social media company.

As per Bloomberg News, primary investors mentioned in the filing include Binance, Brookfield, Qatar Holding, Lawrence J. Ellison Revocable Trust, and Fidelity Management & Research. Twitter’s shares also climbed during pre-market trading.

This comes after the Tesla CEO consented to purchase the social media giant for nearly $44 billion on April 25, in a move that set Tesla investors on the edge. Musk sold over $8.5 billion worth of Tesla shares to finance his takeover of Twitter, reported Bloomberg News.

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