Wall Street, tech investors back Musk Twitter bid with $7B

By MICHELLE CHAPMAN, TOM KRISHER and MATT O’BRIEN
AP Business Writers

Elon Musk has strengthened the equity stake in his offer to buy Twitter with commitments of more than $7 billion from a range of investors, including Oracle co-founder and Tesla board member Larry Ellison. Some other investors include Sequoia Capital Fund, which pledged $800 million, and VyCapital, which pledged $700 million. But Ellison is making the biggest contribution, pegged at $1 billion. A Thursday regulatory filing also showed that Musk initially was set to receive $12.5 billion in margin loans to help fund the deal, but is now cutting that amount in half, to $6.25 billion.