Elon Musk has secured $7.14 billion (approximately Rs 54,485 crore) in funding from a group of investors, including Oracle co-founder Larry Ellison, who raised his $44 billion (approximately Rs 3,37,000 crore) stake in social-media platform Twitter. ) has been funded for the acquisition. According to a filing on Thursday.
The filing showed that Musk’s margin loan has been reduced from $12.5 billion (about Rs 95,419) to $6.25 billion (about Rs 47,700 crore).
Reuters reported last week that Musk was in talks with large investment firms and high-net-worth individuals about seeking more financing for his Twitter acquisition and reducing his assets in the deal.
Earlier this week, it was informed of That Elon Musk was in talks with large investment firms and high-net-worth individuals about seeking more financing for his $44 billion (about Rs 3,37,000 crore) Twitter acquisition. Most of Musk’s wealth is tied up in shares of Tesla, of which he sold Twitter for $8.5 billion (about Rs 65,100 crore). He had reportedly pledged some of his Tesla shares to banks to arrange a $12.5 billion (about Rs 95,700 crore) margin loan, but that should now be mitigated with fresh funding from investors.