Media & entertainment tech

Andreessen Horowitz, Sequoia, Larry Ellison, Others Back Musk’s Twitter Bid With $7.1B In Support

Elon Musk Twitter Tesla

We can’t make this stuff up.

The latest chapter of the Elon Musk-acquisition-of-Twitter saga just introduced some new and interesting characters.

Several big name players in the VC and finance world including Sequoia Capital and Andreessen Horowitz chipped in $7.1 billion to support Musk’s $44 billion takeover of Twitter, according to an amended filing with the SEC on Thursday. Also throwing into that $7.1 billion pot of gold were crypto exchange Binance and asset management firm Fidelity.

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Andreessen Horowitz co-founder and General Partner Ben Horowitz said in a tweet on Thursday that, “Elon is the one person we know and perhaps the only person in the world who has the courage, brilliance, and skills to fix all of these and build the public square that we all hoped for and deserve.”

The firm, which ranked in the top five most prolific venture investors in the U.S. market in April according to a recent Crunchbase report, invested $400 million in the Twitter bid, according to the filing.

Meanwhile, Tesla investor and Oracle co-founder Larry Ellison threw in $1 billion while Sequoia invested $800 million and Dubai-based VyCapital offered up $700 million. Interestingly, both Sequoia and Vy Capital also recently participated in an April Series C for another Musk venture: his tunnel-digging transportation startup The Boring Company.

Crypto exchange Binance invested $500 million and hopes its support of the Musk-led takeover will help fuse social media with Web3. “We’re excited to be able to help Elon realize a new vision for Twitter,” Binance CEO and co-founder Changpeng Zhao said in a statement. “We hope to be able to play a role in bringing social media and web3 together and broadening the use and adoption of crypto and blockchain technology.”

Other notable participants, according to the filing, are Qatar Holding LLC, a global investment house established in 2006 and founded by the Qatar Investment Authority–which ironically does not have the greatest record on free speech–and Canada-based Brookfield Asset Management.

Illustration: Tesla Owners Club Belgium Creative Commons photo


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