Binance participates in Twitter acquisition
- May 5, 2022
- 0
Cryptocurrency exchange Binance has allocated $ 500 million. The US will fund a deal to take over the social network Twitter launched by Elon Musk. The billionaire provided
Cryptocurrency exchange Binance has allocated $ 500 million. The US will fund a deal to take over the social network Twitter launched by Elon Musk. The billionaire provided
Cryptocurrency exchange Binance has allocated $ 500 million. The US will fund a deal to take over the social network Twitter launched by Elon Musk. The billionaire provided this information in a report to the US Securities and Exchange Commission (SEC).
According to the document, Musk pulled $7.14 billion from “partial investors.” UNITED STATES OF AMERICA. Biggest tranche at $1 billion. Written by The Lawrence J. Ellison Revocable Trust, USA. The second largest investment was Sequoia Capital, which allocated $800 million. UNITED STATES OF AMERICA.
As a result, the cryptocurrency exchange is one of the five largest co-investors in the acquisition of social network Elon Musk, which has withdrawn funds from all these structures and provided more than 60 million Tesla shares as collateral for the loan. Note that many stock analysts and stockbrokers consider the value of Tesla shares to be disproportionately inflated, and the P/E multiplier (Price/earnings per share – company capitalization and net profit for the year) is now over 200, which is a lot.
Saudi Arabia’s Twitter shareholder, Prince Al-Walid ibn Talal Al Saud, will invest 35 million shares in the company. At the price offered by Mask ($54.2 per sheet), its stake is estimated at about $1.9 billion. UNITED STATES OF AMERICA.
Source: Port Altele
John Wilkes is a seasoned journalist and author at Div Bracket. He specializes in covering trending news across a wide range of topics, from politics to entertainment and everything in between.