From Saudi Billionaire To Jack Dorsey-Top Investors Who Helped Elon Musk Complete Twitter Takeover

Last week saw the completion of Twitter¡¯s much anticipated takeover by world¡¯s richest person Elon Musk. The Tesla CEO finally bought Twitter for $44 billion after a rollercoaster of around six months, thanks to the help from Wall Street bank loans and shareholders who agreed to roll over their interest in Twitter in exchange for a stake of the new private company.

That means Twitter, whose shares were delisted last week after almost a decade as a public company, has a new lineup of top investors, as per Bloomberg report.

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Eager to know who they are? Here¡¯s the list of top investors who helped Elon Musk in completing Twitter takeover.

Jack Dorsey

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Twitter¡¯s co-founder and former CEO Jack Dorsey rolled over a bit over 18 million shares, or about 2.4% of the public company, worth about $978 million at the merger price. That gave him shares of Musk¡¯s X Holdings I Inc., which controls Twitter.

After Elon Musk first agreed to buy Twitter in April, Jack Dorsey had reportedly lamented that the company was ¡°owned¡± by Wall Street and said that taking it private was the ¡°correct¡± first step.

Dorsey had stepped down from Twitter CEO's role in November 2021, post which Parag Agrawal took over the role of CEO, until being fired by Elon Musk last week.

Prince Alwaleed bin Talal

Reuters

Regulatory filings, as per Bloomberg report, show that the Saudi billionaire Prince Alwaleed bin Talal moved almost 35 million Twitter shares through the Kingdom Holding Co., worth about $1.9 billion at the $54.20 per share sale price. That made Saudi Prince the ¡°second-largest investor¡± in the new parent company.

Prince Alwaleed bin Talal is said to have been quick to endorse Elon Musk¡¯s plan to acquire Twitter, saying earlier in May 2022 that Elon Musk would be ¡°an excellent leader¡± for the social media company.

Qatar Investment Authority

Qatar Investment Authority

Qatar Investment Authority, which is a subsidiary of the sovereign wealth fund of Qatar, reportedly contributed $375 million in exchange for shares of Musk¡¯s holding company.

The Bloomberg Billionaires Index estimates that the value of the stakes rolled over from Twitter stock declined by about 40% since Elon Musk made his takeover offer in April, based on a drop in an index of Twitter shares.

Also Read: Twitter Spent $33 Million On Elon Musk's Takeover Deal

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