Binance Invests $500m In Elon Musk’s Twitter

Binance has invested $500m which is equivalent to N207,555,479,277 to allow Elon Musk to exercise full ownership of Twitter.

Binance was among the key financiers said to perfect the deal at funding Musk’s ownership of the social media platform.

19 investors have promised to invest about $7.1bn to support Musk’s dream to take Twitter private.

Other notable investors were Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia, Sequoia Capital, Fidelity Management & Research Company, Oracle co-founder Larry Ellison — who sits on Tesla’s board.

The Saudi Arabian investor has also planned to place 35 million shares after the deal.

Negotiation with Jack Dorsey and other shareholders about the retention of their Twitter shares is ongoing.

The latest funding commitments mean that the $12.5bn margin loan that Musk obtained has been reduced to $6.25bn, with the deal now being financed by $27.25bn in equity and cash.