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

Musk is the world's second-richest person according to Forbes magazine.

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

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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.