Cryptocurrency exchange Binance, Oracle's Co-Founder Larry Ellison, venture capital firm Sequoia and others backed Elon Musk's efforts to buy Twitter for almost $44 billion. According to the SEC's filing, the Tesla CEO has secured $7.14 billion in total.
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The largest funding was made by Lawrence J. Ellison Revocable Trust, which put $1 billion to back the deal. Binance has pledged $500 million, with Sequoia Capital adding $800 million. Elon Musk also secured funding from Morgan Stanley, Bank of America, and several other banks that promised to lend $25.5 billion.
Elon Musk, will pay $54.20 per Twitter's share (TWTR) to acquire 100% of the company. The billionaire said in a statement that the social network has become a "digital town square where matters vital to the future of humanity are debated." The deal is expected to close some time this year. While the transaction has been approved by the board, it is still pending a regulatory approval.
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