New developments reveal that Elon Musk is not the sole equity provider in the massive $43 billion acquisition of social media network Twitter. According to an updated 13-D document filed with the SEC, the world’s largest exchange BINANCE has committed a massive $500 million to the financing of the deal.
CEO Changpeng Zhao also confirmed the news via a tweet on Thursday.
A small contribution to the cause. https://t.co/xD9XZxOWfL
— CZ ?? Binance (@cz_binance) May 5, 2022
Elon Musk reportedly launched his bid after splurging $2.98 billion to acquire a 9.2% stake in the social media giant earlier in March. Shortly after turning down a seat on the company’s board, the Tesla boss announced plans to buy the company and unlock its true potential
Notably, Binance is not the only cryptocurrency-related outfit providing funds for the historical takeover. The filing also shows that digital asset investment giant Fidelity has invested $316 million in the deal.
Venture capitalist behemoths Andreessen Horowitz and Sequoia have also committed a combined $1.2 billion for Elon’s Twitter takeover.
The single largest contribution comes from Lawrence J Ellison Revocable Trust with $1 billion in equity.
