Musk secures over $7 billion funding from investors including Larry Ellison

div classBodysc17zpet90 cdBBJodivpReuters – Elon Musk has secured 7.14 billion in funding from a group of investors that includes Oracle Corp cofounder Larry Ellison to fund his 44 billion takeover of socialmedia platform Twitter Inc, according to a filing on Thursday.p

pMusk revealed in a filing he had received equity commitment letters from investors including Sequoia Capital, Brookfield, Qatar Holding and others.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe move comes as Musks margin loan was reduced to 6.25 billion from 12.5 billion announced earlier, the filing revealed.p

pMusk will continue to hold talks with existing holders of Twitter, including the companys former chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing showed.p

pReuters last week reported Musk was in talks with large investment firms and high networth individuals about taking on more financing for his Twitter acquisition and tying up less of his wealth in the deal.p

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pp Reporting by Nivedita Balu in Bengaluru Editing by Shounak Dasguptap

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