Qatar's Repressive Regime Will Help Fund Musk's Twitter Deal

[Galraedia]

Elon Musk announced more than $7 billion in new financing for his Twitter bid on Thursday, including a $375 million commitment from a subsidiary of the sovereign wealth fund of Qatar, a country that has allegedly not always upheld Musk’s much-espoused value of “free speech.”

Existing shareholder Prince Alwaleed of Saudi Arabia will also retain a stake in the company worth nearly $2 billion, with additional funding coming from 17 other equity investors such as Sequoia Capital, Andreessen Horowitz, Larry Ellison, and the crypto firm Binance.

In a filing with the Securities and Exchange Commission, Musk said he is working with other current stockholders like Twitter founder Jack Dorsey to commit additional capital to the $44 billion deal.

With Thursday’s announcement, the Tesla CEO was able to reduce a margin loan agreement from $12.5 billion to $6.25 billion—thereby limiting some of his leverage—and increase the equity commitment by the same differential, from $21 billion to $27.25 billion.

Read more: https://news.yahoo.com/qatar-repressive-regime-help-fund-132707962.html

[Lovie777]

1. If people don't use it . ..

$$$$ loss.