Elon Musk has secured $7.14 billion (AED 26.22 billion) in funding from a group of investors that includes Oracle Corp co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter.
According to a filing on Thursday, Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.89 billion stake into the deal rather than cashing out.
The move comes as Musk's margin loan was reduced to $6.25 billion from $12.5 billion announced earlier.
Musk's $21 billion financing commitment was also revised to $27.25 billion.
Musk will continue to hold talks with existing shareholders of Twitter, including the company's former chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing showed.
Qatar Holding and Dubai-based Vy Capital, also an investor in Musk's other venture The Boring Company, are also part of the investor group.
Reuters last week reported Musk was in talks with large investment firms and high net-worth individuals about taking on more financing for his Twitter acquisition and tying up less of his wealth in the deal.
Larry Ellison, a board member at Tesla and a self-described close friend of Elon Musk has committed $1 billion for the funding.
Abu Dhabi partners with Boehringer Ingelheim to advance precision medicine
Saudi Aramco resumes oil loading at Ras Tanura after 4-month halt
Summer Davos ends with call to boost innovation and growth
ADNOC and partners to develop mega gas project
Bank fined AED 20 million for repeated regulatory failures
