Insight into Musk’s Twitter backers

A list of Musk’s Twitter backers has been made public.

The newly private company got a lot of money from co-founder Jack Dorsey, a Saudi prince, and Qatar’s sovereign wealth fund.

Regulatory filings show that the top investors in Twitter after Elon Musk bought the company are the platform’s co-founder Jack Dorsey, Saudi Prince Alwaleed bin Talal, and a subsidiary of Qatar’s sovereign wealth fund.

After months of talks, Musk closed the $44 billion deal to buy the social networking platform last week. He then fired some of Twitter’s top executives right away.

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The Saudi prince kept his stake in Twitter after selling almost 35 million shares through the Kingdom Holding Company. At $54.20 per share, these shares were worth about $1.9 billion, so the prince kept his stake. This made the company and Prince Alwaleed Bin Talal’s private office the second-biggest investors in the company that had just become private.

Jack Dorsey co-founded the social media platform and was its CEO for a while. He rolled over more than 18 million shares, or about 2.4% of the company, worth about $978 million at the merger price. With the money, Dorsey got shares of Musk’s X Holdings, the company that runs Twitter and is owned by Musk.

At the same time, Qatar’s sovereign wealth fund gave $375 million to the new company in exchange for a share of it.


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