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Binance, Ellison Join Group Backing Musk’s Twitter Bid – FT

Elon Musk has raised $7bn in new funding for his attempted $44bn buyout of the social media platform


Tesla CEO Elon Musk
Elon Musk said he had a goal of dying on Mars. Photo: Reuters

 

Cryptocurrency exchange Binance has joined Oracle co-founder Larry Ellison and asset management firms Sequoia, Fidelity and Brookfield in backing Elon Musk’s bid for social media giant Twitter, reports The Financial Times.

Tesla owner Musk has collected $7.14bn of new funding for his $44bn purchase attempt with venture capital firm Sequoia providing $800m, while Binance is offering $500m towards the bid, says the report. Ellison, who is contributing $1bn to the deal, also sits on the board of Tesla. 

Full story: The Financial Times

 

Read more:

India Warns Rules Still Apply to an Elon Musk-Owned Twitter

AF TV – What’s next for Twitter after Elon Musk’s Takeover?

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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