Cryptocurrency billionaire, Changpeng Zhao, recently joined the list of investors seeking to have a stake in Twitter after Elon Musk took over the company, as the Tesla boss raises $7.1 billion.
Musk was able to raise the fund from around 19 investors, according to a recent stock market filing, one of which includes crypto exchange, Binance, owned by Zhao. The company of Zhao invested $500 million in the fundraising round.
The largest contribution came from Saudi Arabia’s Prince al-Waleed bin Talal investment after he decided to keep the $1.9 billion stakes already held through Kingdom Holding Company.
This recent development followed reports that Elon Musk raised $46 billion, part of which is the $7.1 billion. This decreases the loan Musk planned to borrow from $12.5 to $6.25 billion.
Twitter’s takeover by Musk will cost him around $43 billion, and to fund the deal, he met with banks and investors. Though the board has accepted his offer, the deal has not been finalized.
Some of the investors contributing in exchange for equity are Lawrence J. Ellison Revocable Trust ($1,000,000,000), Sequoia Capital Fund, L.P. ($800,000,000), VyCapital ($700,000,000), and AH Capital Management, L.L.C. (a16z) ($400,000,000), Qatar Holding LLC ($375,000,000), Aliya Capital Partners LLC ($360,000,000), Fidelity Management & Research Company LLC ($316,139,386), Brookfield ($250,000,000), Strauss Capital LLC ($150,000,000).
Others are BAMCO, Inc. (Baron) ($100,000,000), DFJ Growth IV, Partners, LLC ($100,000,000), Witkoff Capital ($100,000,000), Key Wealth Advisors LLC ($30,000,000), A.M. Management & Consulting, ($25,000,000), Litani Ventures ($25,000,000), Tresser Blvd 402 LLC (Cartenna)($8,500,000), and Honeycomb Asset Management LP ($5,000,000).
