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Tribune News Service
Tribune News Service
National
Giles Turner, Edwin Chan

Elon Musk secures $7.1 billion in new financing for Twitter

Elon Musk Larry Ellison Twitter Inc. Jack Dorsey

Elon Musk has secured about $7.1 billion of new financing commitments for his proposed $44 billion takeover of Twitter Inc., winning the backing of some of the world’s largest investors.

The equity commitments come as the Tesla Inc. billionaire marshals capital to bankroll one of the biggest tech industry takeovers. The investors named in the filing on Thursday include crypto exchange Binance, Brookfield Asset Management, Fidelity Management & Research, and Qatar Holding.

Musk has also won the support of fellow entrepreneur and Oracle Corp. co-founder Larry Ellison, who has a big stake in Tesla and a seat on its board. Ellison’s trust has committed $1 billion to finance Musk’s takeover.

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