We could discover a document that had been transmitted on Wednesday, April 4 to the U.S. Securities and Exchange Commission, the boss of Tesla and SpaceX named a total of 19 investors who agreed to contribute to the acquisition of the social network.

Larry Ellison, who co-founded the IT giant Oracle and sits on Tesla’s board of directors, will contribute USD 1 billion.


There are also investment funds Sequoia Capital (800 million USD) and Vy Capital (700 million) as well as the cryptocurrency exchange platform Binance (500 million) are also among the main contributors. Prince bin Talal, for his part, will make available nearly 35 million of his Twitter shares once the buyout is finalized in order to retain a stake in the company that Musk wants to delist from the New York Stock Exchange.

There are about 1.9 billion USD worth at the purchase price proposed by the Tesla boss, i.e. 54.20 USD per share. The Saudi investor had initially considered Mr. Musk’s offer too low compared to the “intrinsic value of Twitter.”

“Great to connect with you, my +new+ friend @elonmusk,” Prince bin Talal tweeted Thursday, May 5, in response to a mid-April post by the Tesla boss. “I think you will be an excellent leader for Twitter to propel and maximize its immense potential,” he added.

The equity investment will allow the South African-born entrepreneur and world’s richest man to reduce his margin loan from Morgan Stanley and other financial institutions from $12.5 billion to $6.25 billion. A margin loan allows a borrower to increase its credit by pledging assets as collateral. In Mr. Musk’s case, this is his Tesla shares.

At the same time, the portion of the Twitter acquisition financed in stock and cash by Mr. Musk and the investor list will rise to $27.25 billion, up from $21 billion previously. Mr. Musk also told the SEC that he continues to seek other sources of funding from Twitter shareholders, including the founder and former boss of the platform Jack Dorsey.

For Dan Ives and John Katsingris of Wedbush Securities, this new development is “a smart and strategic financial move by Mr. Musk that will be welcomed at all levels and shows that the Twitter buyout is on track to be completed by the end of the year.”

Also, Elon Musk is expected to take on the role of interim CEO of Twitter for a few months once the acquisition is finalized, according to a report from CNBC. If this scenario takes place, he will replace Parag Agrawal, who leads the company since November and succeeded Jack Dorsey after the latter’s departure.

On Wall Street, Twitter shares were up 3.8% at the beginning of the session, to 50.91 USD, but remained below the purchase price of 54.20 USD proposed by Elon Musk.