Ilona Masku managed to cut the margin debt from the original $ 12.5 billion against his stake in Tesla to $ 6.25 billion thanks to several generous investors who support the takeover of the Twitter mogul.

The New York Times reports that Musk has secured $ 7.14 billion in funding from a group of investors, including Oracle co-founder Larry Allison, to fund the $ 44 billion deal.

Musk, who is the richest man in the world, currently has a net worth of about $ 265.4 billion.

It is reported that he also received letters of commitment to participate in the capital from investors such as Sequoia Capital, Brookfield, Qatar Holding and others.

According to security documents Thursday, 19 investors, including Saudi billionaire prince Alwalid bin Talal bin Abdulaziz al-Saud, pledged the funds.

The Saudi royal has initially rejected Musk’s bid for the takeover, but the prince appears to have changed his mind and is now apparently ready to contribute 35 million of his shares on Twitter – worth $ 1.9 billion – to keep the investment once Musk makes the firm private. according to documents.

Allison, the seventh richest man with a net worth of $ 105.7 billion, is ready to invest $ 1 billion, while Sequoia has promised $ 800 million, the document shows.

Also allocated were VyCapital ($ 700 million), cryptocurrency exchange Binance ($ 500 million) and venture capitalist Andresen Horowitz ($ 400 million).

Musk will continue to negotiate with existing Twitter owners, including former CEO Jack Dorsey, to contribute to the proposed acquisition.

On Tuesday, the village Wall Street Journal reported that Musk was telling investors he was seeking to bring the company back to the public within three years of the buyout.

Compiled by Essay Subramani

READ: Elon Musk is a spoiled brat who doesn’t care about SA when he plays with a new toy on Twitter

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