Elon Musk revealed billions in new commitments last week to help finance his takeover of Twitter. The new investors include a Saudi prince, Qatar’s $450 billion wealth fund and the world's largest crypto exchange, which also has links to the Middle East.
The biggest commitment came from Prince Alwaleed bin Talal Al Saud. After initially rejecting Musk’s offer, Saudi Arabia's richest individual agreed to roll his $1.9 billion stake into a privatized Twitter.
"I believe you will be an excellent leader," Alwaleed tweeted about Musk, an abrupt u-turn from just three weeks ago, when he said the offer from the world's richest man didn't "come close" to Twitter's intrinsic value.
It’s unclear exactly how Musk swayed the Saudi billionaire, but sticking with the company is in keeping with Alwaleed’s tendency to hold tight on high-profile bets through ups and downs.
Qatar's sovereign wealth fund, one of the world's largest, committed $375 million. Binance Holdings, which doesn't have an official headquarters but has referred to the United Arab Emirates as its de facto home, pledged $500 million.
With more than 90 million followers on Twitter, Musk is one of the platform’s most prominent and outspoken users. He has said his main motivation in buying Twitter is to make it a bastion for free speech.
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