The investors in Musk’s Twitter finaly disclosed. The newly privatized corporation received billions in investments from the company’s co-founder, Jack Dorsey, a Saudi prince, including Qatar’s sovereign wealth funds.
According to regulatory documents, major investors in Twitter after Elon Musk acquired the firm include the platform’s founder Jack Dorsey, and the Saudi Prince Alwaleed bin Talal, as well as a subsidiary of Qatar’s sovereign wealth fund. Other investors include Saudi Arabia’s King Salman bin Abdulaziz.
After months of back-and-forth discussions, Elon Musk finally finalized the acquisition of the social networking site for $44 billion last week and promptly terminated many of Twitter’s most senior employees.
After shifting over 35 million shares via the Crown Holding Company at a selling price of $54.20 per share, the Saudi prince was able to keep his ownership position in Twitter while simultaneously realizing a profit of about $1.9 billion. As a result, the company as well as the office of Highness Alwaleed Bin Talal became the newly privatized company’s second-largest investor after their combined efforts.
More than 18 million shares, representing around 2.4% of the firm and worth approximately $978 million based on the merger price, were rolled over by Jack Dorsey, who was one of the co-founders of the social networking platform and formerly worked as its chief executive officer. Dorsey received stock in Musk’s X Holdings as a result of the transaction, which gives him control of Twitter.