According to the WSJ, a Saudi prince, Larry Ellison, and a bitcoin exchange are among a group of 19 investors who have committed more than $7 billion to back Elon Musk’s bid for Twitter. The biggest contribution comes from Prince al-Waleed bin Talal of Saudi Arabia, who agreed to retain his nearly $1.9 billion stake in Twitter following Mr. Musk’s takeover, the disclosure said. The new money cuts Musk’s personal cash investment to under $20 billion.
There has been some speculation that Elon was just messing around with the idea of buying Twitter. As time passes, it looks more and more like it’s going to happen.
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About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.