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Elon Musk has secured $7.14 billion in funding from a group of investors that includes Oracle Corp co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter Inc, according to a filing on Thursday, Reuters said.
Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.89 billion stake into the deal rather than cashing out, the filing showed.
The move comes as Musk’s margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, according to the filing.
Musk’s $21 billion financing commitment was also revised to $27.25 billion.
