Elon Musk Turns to Billionaire Backers for Twitter Equity
- Tesla CEO gets Andreessen, Ellison, Binance to join his group
- Billionaire Prince Alwaleed agrees to roll over Twitter shares
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Elon Musk’s $7.1 billion of new financing commitments to help him buy Twitter Inc. for $44 billion come from the the highest rungs of global finance -- and some familiar faces from his other ventures.
The Tesla Inc. co-founder won over the Saudi prince who initially balked at his offer and brought aboard Larry Ellison, the 11th richest person on the Bloomberg Billionaires Index. He also got a half-billion-dollar commitment from cryptocurrency exchange Binance.