In a filing, Musk disclosed US$7 billion in new financing from a group of investors, including US$250 million from the Toronto-based alternative asset manager. Other backers include crypto exchange Binance and former Oracle CEO Larry Ellison. (The Logic)
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In a filing, Musk disclosed US$7 billion in new financing from a group of investors, including US$250 million from the Toronto-based alternative asset manager. Other backers include crypto exchange Binance and former Oracle CEO Larry Ellison. (The Logic)
Talking point: Brookfield’s investment, the biggest to date for its venture-capital arm, deepens the relationship between Musk and the asset manager, which also includes an investment in Musk’s Boring Co. and a partnership to build sustainable housing in Austin, according to Bloomberg. The new financing adds to the US$25 billion he obtained from institutions including RBC and CIBC, with the loans secured by his holdings in Tesla. The inclusion of Binance among the latest backers suggests that Twitter could make bigger moves in cryptocurrency after rolling out features like Bitcoin tipping and verified NFT profile pictures in its app. Meanwhile, CNBC reported Thursday that Musk is expected to serve as Twitter’s temporary CEO after the deal goes through. Tesla stock was down on the news.
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