Binance and Sequoia Back Musk's $44 billion Twitter Buyout

Nearly two dozen other investors have committed to finance the deal


Teckwai Saw

6 May, 2022

Binance and Sequoia Back Musk's $44 billion Twitter Buyout | BEAMSTART News

Elon Musk has raised US$7.1 billion from nearly two dozen investors for his US$44 billion acquisition of Twitter.

A regulatory filing reveals global cryptocurrency exchange, Binance financed US$500 million, while Sequoia Capital chipped in US$800 million for the deal.

With the new funding, Musk will reduce the margin loan he has taken with a group of lenders by half to US$6.25 billion and increase the equity portion to US$27.25 billion.

Other Notable Investors

  • Oracle co-founder, Larry Ellison - US$1 billion
  • Global technology investment firm, VyCapital - US$700 million
  • Private venture capital firm, Andreessen Horowitz - US$400 million
  • Qatar's sovereign wealth fund, QIA - US$375 million
  • Asset management corporation, Fidelity - US$316 million

Community Q&A

“Elon is the one person we know and perhaps the only person in the world who has the courage, brilliance, and skills to fix all of these and build the public square that we all hoped for and deserve,” said Ben Horowitz, co-founder and general partner at Andreessen Horowitz.

Key Highlights

  • The Tesla and SpaceX founder also revealed that he is in talks with existing shareholders, including billionaire Twitter co-founder Jack Dorsey, by giving them an option to contribute their shares to the buyout.
  • On 25 April, Twitter accepted Musk's offer of US$44 billion even though the social networking platform had tried to prevent him from raising his stake in Twitter to more than 15%.
  • It is reported that Musk sold US$8.5 billion worth of Tesla shares after his bid to acquire Twitter was accepted.
  • A Binance spokesperson commented that Binance's involvement is "as a supporter of Elon Musk's plans for Twitter and an investor."
  • Meanwhile, Microsoft co-founder, Bill Gates said that an Elon Musk-owned Twitter "could be worse".

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Senior Marketing

Gallons & Grapes Pte Ltd

Buona Vista, Singapore

Full Time

SGD 4000 — SGD 4500 monthly

English-Korean Freelance Transcriber in Singapore

Elite Asia

Singapore

Contract / Freelance

Salary Undisclosed

Account Manager (Hybrid)

Pinkerton

New York, NY, United States

Full Time

Salary Undisclosed

Customer Service Representative

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3000 — MYR 4000 monthly

GROCERY SHOPPER UP TO $11/H !THEY ORDER, YOU SHOP!

RecruitFirst

SIngapore, Singapore

Contract / Freelance

SGD 9 — SGD 11 monthly

English Technical/Legal Writer

Pacston Technology Group

Kuala Lumpur, Malaysia

Full Time

USD 20000 — USD 60000 monthly

Junior Accounts Cum Admin Assistant

LABEL-LINE CORPORATION PTE LTD

Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

Head of Developers

TWGT

Manila, Philippines

Full Time

USD 2000 monthly

Teckwai Saw

Editor in Chief

Based in Kuala Lumpur / Malaysia

Works at BEAMSTART

Education Not Specified

beamstart.com

Also Mentioned


Elon Musk

Chief Executive Officer

From United States

Identity Verified






SpaceX

SpaceX designs, manufactures and launches advanced rockets and spacecraft.


Microsoft

Computer software, consumer electronics, personal computers, and related services.

Related Topics

Venture Capital Twitter Elon Musk

More Related Stories

Community Discussions

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).