{"id":7732,"date":"2022-05-05T15:34:48","date_gmt":"2022-05-05T15:34:48","guid":{"rendered":"https:\/\/theblogonline.com\/?p=7732"},"modified":"2022-05-05T15:34:48","modified_gmt":"2022-05-05T15:34:48","slug":"binance-commits-500m-for-elon-musks-twitter-takeover","status":"publish","type":"post","link":"https:\/\/theblogonline.com\/?p=7732","title":{"rendered":"Binance Commits $500m For Elon Musk\u2019s Twitter Takeover"},"content":{"rendered":"<p class=\"p1\">The world\u2019s largest cryptocurrency exchange, Binance, has committed $500m in financing to help Elon Musk buy Twitter.<\/p>\n<p class=\"p1\"><span class=\"s1\">The firm is among several financiers that said in a May 4 filing they would contribute towards the deal to fund Musk\u2019s ownership of the social media platform.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Altogether the 19 investors have pledged about $7.1bn to support Musk\u2019s bid to take Twitter private, one of the largest takeovers in technology history, <a href=\"https:\/\/www.fnlondon.com\/articles\/binance-pledges-500m-in-fresh-7bn-funding-for-elon-musks-twitter-takeover-20220505\" rel=\"nofollow noopener\" target=\"_blank\">FN London<\/a> reports.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Other equity investors in the deal include Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia, Sequoia Capital, Fidelity Management &amp; Research Company, Oracle co-founder Larry Ellison \u2014 who sits on Tesla\u2019s board \u2014 and VyCapital, the 13D Securities and Exchange Commission filing noted.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The Saudi Arabian investor plans to hold his stake of 35 million shares after the deal. Talks continue with Jack Dorsey and other shareholders about retention of their Twitter shares.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">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, the filing said.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world\u2019s largest cryptocurrency exchange, Binance, has committed $500m in financing to help Elon Musk buy Twitter. The firm is among several financiers that said in a May 4 filing they would contribute towards the deal to fund Musk\u2019s ownership of the social media platform. Altogether the 19 investors have pledged about $7.1bn to support [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7733,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4646,4505,4647],"class_list":["post-7732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-elon-musk","tag-twitter-takeover"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7732"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7732"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7732\/revisions"}],"predecessor-version":[{"id":7734,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7732\/revisions\/7734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/7733"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}