Elon Musk is expected to serve as Twitter’s temporary CEO for a few months once he completes his $44 billion takeover of the company
Last month, Twitter accepted an offer from Elon Musk to buy the company and take it private. Then, he offered to buy the company at $54.20 per share, his “best and final.” That offer valued Twitter at about $43 billion.
A recent SEC filing revealed Musk secured approximately $7.14 billion in equity commitments from friends and other investors to buy Twitter. Commitments range from $1 billion from Oracle co-founder Larry Ellison to $5 million from Honeycomb Asset Management, which invested in SpaceX.
Elon Musk secures $7.1 billion of new financing commitments for $44 billion takeover of Twitter Inc.
The investors are;
— Kenyan Wallstreet (@kenyanwalstreet) May 5, 2022
– Binance
– Brookfield
– Fidelity Management & Research
– Qatar Holding
– Oracle Co-founder Larry Ellison
In the company’s latest earnings report, Twitter said it hit 229 million monetizable daily active users, a 15.9% increase from the same period last year.
Twitter Accepts Elon Musk’s $44 Billion Buyout Deal
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