May 5, 2022

Binance backs Elon Musk’s $44 billion Twitter bid.

Binance and Fidelity are among the group of investors that are backing Tesla CEO’s $44 billion bid to acquire Twitter.

Binance has put up $500 million in the tech billionaire’s $44 billion bid. 

Oracle co-founder Larry Ellison invested the highest amount of $1 billion. 

Investment firm Fidelity, who also holds shares in Tesla, pledged $316 million.

The SEC filing revealed Prince Al Waleed bin Talal Al Saud of Saudi Arabia holds 35 million shares in Twitter to retain a stake after the company’s takeover. 

The tech billionaire revealed in the SEC filing that he had raised over $7.1 billion in total from the investors.

Elon Musk is in talks with Twitter founder Jack Dorsey to secure more funds for the microblogging platform’s acquisition.