{"id":61045,"date":"2022-05-05T14:32:58","date_gmt":"2022-05-05T11:32:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61045"},"modified":"2025-09-05T09:48:11","modified_gmt":"2025-09-05T06:48:11","slug":"binance-backs-elon-musk-with-500-million-for-twitter-takeover","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-backs-elon-musk-with-500-million-for-twitter-takeover\/","title":{"rendered":"Binance backs Elon Musk with $500 million for Twitter takeover"},"content":{"rendered":"

The cryptocurrency exchange Binance has earmarked $500 million to finance the takeover of the social network Twitter, initiated by Elon Musk. The billionaire stated in the filing<\/a> with the U.S. Securities and Exchange Commission (SEC).<\/p>\n

According to the document, Musk raised $7.14 billion from \u201cequity investors.\u201d The largest check ($1 billion) was written by The Lawrence J. Ellison Revocable Trust. In second place is Sequoia Capital, which provided $800 million.<\/p>\n

\"Binance
\u0414\u0430\u043d\u043d\u044b\u0435: SEC.
<\/figcaption><\/figure>\n

Prince Alwaleed bin Talal Al Saud, who is already a Twitter shareholder, will invest 35 million shares in the company. At Musk’s proposed price ($54.2 per share), his stake is valued at about $1.9 billion.<\/p>\n

In early April Musk became the largest shareholder in Twitter after acquiring 9.2% of the shares for $2.89 billion<\/a>.<\/p>\n

On April 14 he offered to buy the social network for more than $43 billion<\/a>. The entrepreneur explained this as an intention to create an \u201cinclusive arena for free speech\u201d<\/a>, and not a desire to profit.<\/p>\n

Initially Twitter’s management did not value the offer<\/a> and approved a plan to defend against a takeover. However, later reconsidered<\/a> its position.<\/p>\n

On April 25 the board approved selling the company to Musk for $44 billion<\/a>.<\/p>\n

Coinbase CEO Brian Armstrong called the deal a \u201cvictory for free speech\u201d<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance earmarked $500 million to finance the Twitter takeover initiated by Elon Musk. The billionaire disclosed this information in a filing with the U.S. Securities and Exchange Commission (SEC).<\/p>\n","protected":false},"author":1,"featured_media":61046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1217,40],"class_list":["post-61045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-elon-musk","tag-twitter"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=61045"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61045\/revisions"}],"predecessor-version":[{"id":61047,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61045\/revisions\/61047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61046"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}