Elon Musk secures investment from Larry Ellison, other investors for Twitter buyout: Report

Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.89 billion stake into the deal

AgenciesUpdated: Thursday, May 05, 2022, 06:26 PM IST

The move comes as Musk's margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, according to the filing | AP

Elon Musk has secured $7.14 billion in funding from a group of investors that includes Oracle Corp co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter Inc, according to a filing on Thursday, Reuters said.

Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.89 billion stake into the deal rather than cashing out, the filing showed.

The move comes as Musk's margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, according to the filing.

Musk's $21 billion financing commitment was also revised to $27.25 billion