Aside from Twitter’s current turmoil of firing employees, paid features, being delisted as a public company and much more, the social media giant has a new line-up of investors.
Elon Musk acquired the social media platform for $44 billion, with the help of Wall Street bank loans and shareholders who expressed their interest, after is “pitch desk” for a stake of the new company.
Prince Alwaleed bin Talal
Known as one of the Middle East’s richest investors, Saudi Arabia’s Prince Alwaleed bin Talal is the second-largest investor in Twitter after Musk’s takeover of Twitter.
Commenting on Musk’s tweet which read ‘the bird is freed’ on October 28, Prince Alwaleed said, “Dear friend “Chief Twit” @elonmusk Together all the way @Twitter”
The two entities said on Friday that they will continue their ownership of Twitter shares valued at $1.89 billion after Elon Musk’s took over the social media company, as per a statement tweeted by Prince Alwaleed.
“Kingdom Holding Company (KHC) and the private office of His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud (PO) announce the roll over of their ownership of the existing Twitter shares (34,948,975 shares) valued at $1.89 billion to the “New” Twitter, led by Elon Musk, KHC & PO are jointly the second largest investor after Elon Musk,” the statement said.
Alwaleed’s Kingdom Holding is owned by Saudi Arabia’s sovereign wealth fund by 16.9 percent and is chaired by crown prince Mohammed Bin Salman.
Qatar Investment Authority
Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA) contributed $375 million to Elon Musk’s deal to buy Twitter, a filing with the Securities and Exchange Commission said Friday, noting the deal had closed on Thursday, according to a report by The Washington Post.
The funds were provided by QIA’s subsidiary, the filing said, adding that it would “no longer hold shares of Twitter stock, but rather a stake in the private company owned by Musk,” the report said.
Jack Dorsey
Twitter co-founder Jack Dorsey rolled out over 18 million shares following Musk’s acquisition of the social media platform, according to a filing on the US Securities Exchange. Dorsey stepped down from the board earlier this year, however, he still continues to be an investor of the social media platform.
Dorsey’s transfer effectively contributed just a little under $1 billion to Musk’s $44 billion Twitter purchase, making him one of the largest investors in the new company.
According to CNN, the decision by Dorsey makes him one of the few stakeholders in Musk’s Twitter with ties to prior leadership, despite Musk dissolving the board of directors immediately after he took over the social media company.
Binance
Popular crypto exchange company Binance invested $500 million in Elon Musk’s Twitter, driven by the company’s chief executive Changpeng “CZ” Zhao love for free speech.
“Number one, we want to be extremely supportive of free speech. As a business, we are helping to increase the freedom of money, and free speech comes before freedom of money, so we need to help maintain free speech,” Zhao said, speaking at the Web Summit tech conference on November 1.
Zhao took it to Musk’s Twitter to confirm Binance’s investment into the social media platform on October 28, by saying his intern had wired $500 million.
“We’re excited to be able to help Elon realize a new vision for Twitter. We aim to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology,” Zhao said in a statement to Business Insider.
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