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Binance, Ellison Join Group Backing Musk’s Twitter Bid – FT

Elon Musk has raised $7bn in new funding for his attempted $44bn buyout of the social media platform


SpaceX owner and Tesla CEO Elon Musk at the E3 gaming convention in Los Angeles
Tesla chief Elon Musk at the E3 gaming convention in Los Angeles. Reuters

 

Cryptocurrency exchange Binance has joined Oracle co-founder Larry Ellison and asset management firms Sequoia, Fidelity and Brookfield in backing Elon Musk’s bid for social media giant Twitter, reports The Financial Times.

Tesla owner Musk has collected $7.14bn of new funding for his $44bn purchase attempt with venture capital firm Sequoia providing $800m, while Binance is offering $500m towards the bid, says the report. Ellison, who is contributing $1bn to the deal, also sits on the board of Tesla. 

Full story: The Financial Times

 

Read more:

India Warns Rules Still Apply to an Elon Musk-Owned Twitter

AF TV – What’s next for Twitter after Elon Musk’s Takeover?

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.