According to a filing on Thursday, Elon Musk has received $7.14 billion in cash from a consortium of investors that includes Oracle Corp-Co-founder Larry Ellison and Sequoia Capital to fund his $44 billion buyouts of Twitter Inc.
It was revealed in a filing that Saudi Arabian investor Prince Alwaleed bin Talal, who initially opposed the takeover, opted to keep his $1.89 billion shares in the sale instead of paying it out.
According to the document, Musk’s margin loan was cut from $12.5 billion to $6.25 billion.
In addition, Musk’s $21 billion funding promise was amended to $27.25 billion.
The document shows that Musk is still in negotiations with Twitter’s current owners, including former CEO Jack Dorsey, to contribute their shares to the proposed takeover.
Both Qatar Holding and Dubai-based Vy Capital, an investor in Musk’s The Boeing Company, are members of the group of investors.
When it comes to funding the purchase of Twitter, Tesla CEO Elon Musk is in negotiations with significant investment companies and high-net-worth people, according to Reuters.
Elon Musk’s close friend and Tesla board member Larry Ellison has pledged $1 billion to the project.
Before the bell, Twitter’s shares rose 2.9% to $50.5, remaining below Musk’s offer of $54.20.
