Elon Musk's Twitter receives fresh investments from Dorsey, Saudi Prince after takeover

Tesla CEO Elon Musk has officially taken over Twitter last week, after completing a $44 billion acquisition deal. With support of loans and investors who consented to roll over ir interest in  microblogging platform in return for a stake in new private firm, Musk acquired Twitter Inc. After purchasing company, billionaire will serve as its CEO, furr intending to make justments to Twitter's verification process and slashing jobs. 

As per a filing with United States Securities and Exchange Commission on Monday, October 31, Twitter co-founder Jack Dorsey has transferred his entire stake in firm, consisting of 18 million shares, worth close to $978 million at buyout price of $54.20, BBC reported. Dorsey, who resigned from Twitter's board in May, backed Musk's decision to buy company. 

Earlier,Jack Dorsey stated in a tweet following former management team of company's approval of takeover, “Elon is singular solution I trust. I trust his mission to extend light of consciousness”.  

It is pertinent to mention that with Musk's own money, money of a number of or investors, and around $13 billion in debt financing, Tesla's CEO funded his acquisition. 

Saudi Prince has rolled over 34.948 million Twitter shares 

Besides this, according to a filing with US government, Prince Alwaleed bin Talal bin Abdulaziz of Saudi Arabia and Kingdom Holding Firm are second-largest investors in newly privatised company. Prior to Musk purchase, Prince Alwaleed was a significant Twitter investor, BBC reported. 

On Monday, Saudi Arabia's Prince Alwaleed noted in a Securities and Exchange Commission filing that he h fulfilled his $1.9 billion commitment, Forbes reported.  

Saudi monarch tweeted on Friday, "Dear friend "Chief Twit" @elonmusk Toger all way @Twitter," with a photo of a statement from prince's publicly tred investment company, Kingdom Holding, and his personal office announcing that prince h been rolling over his 34.948 million shares of Twitter, valued at $54.20 per share based on Musk's offer. Currently, Alwaleed and Kingdom Holding jointly hold 4% of Twitter, Forbes reported. 

He tweeted that position fits with Kingdom Holding Company's "long-term investment strategy." 

Meanwhile, as per a Bloomberg report, $375 million has been given by a subsidiary of Qatar's sovereign wealth fund in return for shares in Elon Musk's Twitter. 

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