Deals
Musk Cuts His Margin Risk With Equity Partners for Twitter
- Larry Ellison, Sequoia among investors putting up $7.1 billion
- New funding cuts in half size of Musk’s record margin loan
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Elon Musk may be the world’s richest person, but that doesn’t mean he wants to put his massive fortune at risk to buy Twitter Inc.
The Tesla Inc. co-founder restructured his complex bid for the social-media giant by getting $7.1 billion in equity commitments from investors. He also cut in half the size of a record margin loan arranged last month with an array of investment banks.