Musk, the world’s richest person with a net worth valued by Forbes at $265.4 billion, also received equity commitment letters from investors such as Sequoia Capital, Brookfield, Qatar Holding, and others, according to securities filings.
The move will help Musk reduce a margin loan against his stake in Tesla to $6.25 billion from the $12.5 billion announced earlier, the filing revealed.
The Thursday filing listed 19 investors, including billionaire Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Al-Saud.
The Saudi royal, who initially rejected Musk’s takeover bid, saying it was too low, is now apparently willing to contribute 35 million of his own shares of Twitter — worth $1.9 billion — to retain an investment once Musk takes the firm private, according to filings.
Ellison, the seventh richest person with a net worth valued at $105.7 billion. is willing to invest $1 billion, while Sequoia has pledged $800 million, the filing shows.
VyCapital ($700 million), cryptocurrency exchange firm Binance ($500 million), and venture capitalist Andreessen Horowitz ($400 million) have also committed funds.
Musk will continue to hold talks with existing holders of Twitter, including the company’s former chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing showed.
Reuters last week reported Musk was in talks with large investment firms and high net-worth individuals about taking on more financing for his Twitter acquisition and tying up less of his wealth in the deal.