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Elon Musk raises $7 billion to buy Twitter

Elon Musk recauda 7 mil millones de dólares para comprar Twitter

The founder of Tesla, Elon Musk, has managed to get several investment funds and other millionaires to contribute 7,000 million dollars of the 21,000 million that the tycoon promised to give directly out of his pocket for the acquisition of the Twitter platform, for which he will pay a total of 44,000 million.

This money contributed by third parties is part of the 21,000 million that Musk promised to pay personally, while the other 23,000 million correspond to bank loans.

Among the tycoons who will support Musk in his new adventure are Oracle co-founder Larry Ellison, the financial firm Sequoia, the cryptocurrency exchange platform Binance and even a Saudi prince, Al Walid bin Talal, according to a document provided to the Commission of United States Securities and Exchange (SEC).

The text states that Ellison is so far the one who will contribute the most, with a total of 1,000 million dollars, followed by Sequoia, who will deliver 800 million.

On April 29, it was learned that the tycoon sold shares of his electric vehicle company Tesla worth 8,000 million for the purchase of the message exchange platform.

Two days ago, The Wall Street Journal (WSJ) reported, citing sources familiar with the matter, that Musk plans to sell Twitter in three years.

The WSJ also announced that Musk was in contact with private investment funds to help him pay the 21 billion that he promised to contribute as his own funds to acquire the social network.

The objective of the operation, by which Twitter would stop trading on the stock market, is to convince investors that it can rapidly increase the profitability of the social network and thus make it more attractive.

Musk has not given many concrete clues about what he plans to do with Twitter, beyond the financial aspects, but he has hinted that he wants to reduce what he calls "censorship" on the network, in reference to the moderation policies for hateful or extremist content.

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