Tesla CEO Elon Musk has raised about 9 trillion won in investment to take over Twitter. Saudi Prince Alwaleed and virtual asset exchange Binance joined as investors.
Earlier, Elon Musk had to back up $21 billion (about 26 trillion won) of the $46.5 billion (about 58 trillion won) of the Twitter acquisition with equity capital. Musk is the world’s richest man with over 300 trillion won in assets. However, since most of the assets were owned by Tesla and SpaceX, opinions were raised that it was necessary to attract investment in consideration of the weakening of management rights and the loan limit.
And Musk managed to attract an investment of 7.14 billion dollars (about 9 trillion won). The Wall Street Journal (WSJ) reported on the 5th local time that Musk has raised such an investment from 19 investors, which will help reduce the asset burden in the Twitter acquisition. Dan Ives, an analyst at Wedbush, an American brokerage firm, also said, “It’s a tycoon that investors call me.”
According to a US Securities and Exchange Commission (SEC) document, the most promising investor among investors was Saudi Prince Alwaleed bin Talal. “I believe my new friend Musk will be a great leader to unlock the incredible potential of Twitter,” he said on Twitter.
In addition, Oracle CEO Larry Ellison ($1 billion), Sequoia Capital ($800 million), and Binance ($500 million) participated. Binance Founder Changpeng Zhao said the investment was “a small support for Elon Musk’s cause.” I hope I can,” he said.
Economic media outlet CNBC expected Musk to assume the role of interim CEO after the takeover of Twitter. According to CNBC, Musk declared that “Twitter is unprofitable and that too many engineers aren’t working enough” and that he will “turn it into a ‘magnet’ that attracts talent.” I’m really curious to see what blues Musk will bring to Twitter.
Source = Media Bamboo
Arrangement = Reporter Hyungi Kim [email protected]