of Elon Musk a bold move to buy Twitter, taking it privately, making it a “free” bird than it is now, apparently gets along well with at least a few, if not all, of the most notable technological people. Ben Horowitz of a16z was the last to join the offer, providing $ 400 million for Musk’s offer, which already includes Sequoia, crypto-major Binance, Larry Ellison of Oracle and others.
The largest of these contributions still comes from Ellison, who has raised a staggering $ 1 billion for Musk’s offer. Sequoia wrote a check for $ 800 million, VyCapital $ 700 million, and Binance chipped $ 500 million. Given the massiveness of Musk’s offer, these contributions, while remarkable and large in absolute terms, are mostly “chips,” with no significant purchases of $ 1 billion + from some notable PE firms.
“Elon is the only person we know and perhaps the only person in the world who has the courage, brilliance and skills to fix all this and build the public square that we all hoped and deserved.” tweets Ben Horowitz, co-founder and general partner of Andreessen Horowitz.
1 / First some news, we join Elon Musk’s offer for Twitter and invest $ 400 million in the company.
– benahorowitz.eth (@bhorowitz) May 5, 2022
Interestingly, despite rumors and “inside sources”, no PE company has supported any part of Elon Musk’s offer, at least according to the latter. modified 13D submission. Qatar is also a supporter of Musk’s candidacy, which, ironically, has one of the worst results when it comes to freedom of speech, something Musk has said is absent from Twitter at the moment.
Saudi investor Prince Alwaleed bin Talal, who initially opposed the buyout, also agreed to include his $ 1.89 billion stake in the deal instead of cashing in, documents show. Musk’s own margin loan has been reduced from $ 12.5 billion to $ 6.25 billion. In addition, its $ 21 billion funding commitment was also revised to $ 27.25 billion.
In total, Elon Musk has a commitment of more than $ 7 billion from various investors, which is almost 6.3% of the total offer of $ 44 billion.