Saturday, May 28

Tag: social media

Wall Street, Tech Investors Back Musk Twitter Bid With $7B | Business News
Business

Wall Street, Tech Investors Back Musk Twitter Bid With $7B | Business News

By MICHELLE CHAPMAN and TOM KRISHER, AP Business WritersElon Musk has strengthened the equity stake of his $44 billion offer to buy Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.A regulatory filing Thursday also said that Musk is in talks with other parties for additional funding commitments, including former Twitter CEO Jack Dorsey, the social media platform's second-largest individual stakeholder after Musk.Ellison, who is also a board member of electric vehicle maker Tesla, is making the biggest contribution, pegged at $1 billion. Musk is Tesla's CEO and biggest shareholder.Other investors include tech investor Sequoia Capital Fund, which pledged $800 million, and VyCapital, ...