Tesla Inc. CEO Elon Musk provided $ 7.14 billion in funding from a group of investors such as co-founder Oracle Corp. Larry Allison to fund it $ 44 billion capture the social networking platform Twitter Inc., according to a statement Thursday.
In a statement, Musk revealed that he also received letters of commitment on equity participation from investors including Sequoia Capital, Brookfield, Qatar Holding and others.
The move came at a time when Mask’s margin loan was reduced to $ 6.25 billion from the $ 12.5 billion previously announced, the statement said.
Musk will continue talks with existing Twitter owners, including former CEO Jack Dorsey, about contributing shares to the proposed acquisition, the statement said.
Last week, Reuters reported that Musk was in talks with major investment firms and high-capitalists to take more funding to acquire his Twitter and attract less of his wealth into the deal.