With the assistance of Wall Street bank loans and stockholders who agreed to roll over their investment in the social media site in return for a part in the new private firm, Elon Musk acquired Twitter last week for $44 billion.
Consequently, Twitter, whose shares were delisted last week after almost ten years as a publicly traded business, has a new group of elite investors.
Alwaleed bin Talal, Prince
According to regulatory records, the Saudi Prince sold about 35 million Twitter shares through Kingdom Holding for $1.9 billion, or roughly Rs. 15,700 crores, for $54.20 per share. He was now the “second-largest investor” in the new parent business.
Alwaleed was one of the first to support Musk’s acquisition of Twitter, stating in May that Musk would be “a fantastic leader” for the social media business.
Jack Dorsey
Just over 18 million shares, or approximately 2.4 percent of the publicly traded firm, were rolled over by the co-founder and former CEO of Twitter for a total transaction value of around $978 million (about Rs. 8,090 crores) at the merger price. As a result, he received shares of Elon Musk’s Twitter-controlling X Holdings I.
Dorsey lamented that Wall Street “possessed” the firm when Musk initially agreed to purchase Twitter in April and argued that going private was the “right” first move.
Investment Authority of Qatar
In return for shares in Musk’s holding company, a subsidiary of the sovereign wealth fund of Qatar gave $375 million (about Rs. 3,100 crores).
Based on a loss in an index of shares of social media companies, the Bloomberg Billionaires Index calculates that the value of the stakes transferred from Twitter stock has decreased by nearly 40% since Musk made his offer in April.
