Elon Musk secures $7bn in outside funding for Twitter takeover

The Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.9bn stake into the deal rather than cashing out, according to a filing with the US financial watchdog.

According to the filing with the US Securities and Exchange Commission, Ellison is putting $1bn into the transaction. Ellison, who is worth about $95bn, made his fortune as the founder of the database-software business Oracle. A member of the Tesla board, he was one of the few top technology executives to openly support the presidency of Donald Trump and reportedly hosted a fundraiser for the politician in 2020 at his California estate.