Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Business»Saudi prince, Qatar firm among investors in Elon Musk’s Twitter: Report
Business

Saudi prince, Qatar firm among investors in Elon Musk’s Twitter: Report

November 4, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Elon Musk is the brand new proprietor of social media large Twitter, this after he accomplished a $44 billion buyout final Thursday. The acquisition was accomplished with the assistance of Wall Avenue financial institution loans in addition to the shareholders who’ve agreed to roll over their curiosity in Twitter in alternate for the stake within the firm, Bloomberg reported.

On Monday, Musk stated in a submitting that he shall be serving because the chief government of Twitter. “The next individuals, who have been administrators of Twitter previous to the efficient time of the merger, are not administrators of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou”, he stated within the submitting.

Twitter’s shares have been delisted final week after almost a decade as a public firm. Now, the social media large as a brand new lineup of recent traders.

Prince Alwaleed bin Talal

In keeping with the regulatory submitting, Saudi prince Alwaleed bin Talal moved nearly 35 million Twitter shares by way of the Kingdom Holding Co. that are value $1.9 billion at $54.40 per share sale value, Bloomberg reported. The Saudi prince is the second largest investor within the now personal firm.

Alwaleed, who stated Musk can be a superb chief for the social media large, owns chunks of personal and public corporations in america, Europe and the Center East via Kingdom Holding Co, Forbes reported.

Jack Dorsey

In keeping with the report, Dorsey rolled over greater than 18 million shares value $978 million. After Musk had agreed to purchase Twitter in April, Dorsey had lamented that the corporate was owned by Wall Avenue and taking it personal was the primary right step.

Qatar Funding Authority

The Center East nation’s subsidiary of the sovereign wealth contributed $375 million in alternate for the shares of Musk’s holding firm.

A subsidiary of the sovereign wealth fund of Qatar contributed $375 million in alternate for shares of Musk’s holding firm.

The Bloomberg Billionaires Index estimates the worth of the stakes rolled over from Twitter inventory declined by about 40% since Musk made his provide in April.

After taking on the reins of Twitter, Elon Musk has introduced a number of adjustments into the social media app. He introduced the organising of content material moderation council which in line with him will embody wide selection of numerous voices. He additionally hinted at reviewing the phrase limits in tweets.

Musk has additionally revamped the verification course of, with some stories suggesting a month-to-month payment of $20 shall be levied for blue badge. At the moment, in a reply to writer Stephen King who objected to the payment, Musk stated the corporate wanted to pay its payments.

(With Bloomberg inputs)

Source link

among Elon firm investors Musks Prince Qatar report Saudi Twitter
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Axis Max Life Concludes Brand Transition with Domain Migration | Business News

May 31, 2025

As carmakers struggle to integrate software systems into vehicles, Toyota weaves in its Arene toolkit | Business News

May 31, 2025

Jamie Dimon vows to support Elon Musk

May 31, 2025

India weighs Trump tariff ruling as US trade negotiators head to Delhi on June 5 | Business News

May 31, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

How to find free Wi-Fi anywhere: Quick and easy tips | Technology News

May 31, 2025

5 Types of Investments Poised To Benefit

May 31, 2025

In Jaipur, Nadda hails Modi’s ‘bold, decisive leadership’ during Operation Sindorr – ‘Pakistan surrendered in four days’ | India News

May 31, 2025

Thailand’s Opal Suchata Chuangsri crowned Miss World 2025 | Lifestyle News

May 31, 2025
Popular Post

Unsung Heroes: Bridging tech and inclusivity, how ATF empowers accessibility for all | Bangalore News

Stock rout spreads beyond tech

WPL 2024: Harmanpreet Kaur’s return to form, S Sajana’s last-ball six lights up opening night as MI beat DC in thriller | Cricket News

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.