麻豆影视

Business

    • Musk gets US$7B backing for Twitter bid from tech heavyweights

    Share

    Elon Musk has strengthened the equity stake in his $44 billion offer to buy Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.

    A regulatory filing Thursday also said that Musk is in talks with others for additional funding, including former Twitter CEO Jack Dorsey, the social media platform's second-largest individual stakeholder after Musk.

    Ellison, who is also a board member of electric vehicle maker Tesla, is making the biggest contribution, pegged at $1 billion. Musk is Tesla's CEO and biggest shareholder.

    Other investors include tech investor Sequoia Capital Fund, which pledged $800 million, and VyCapital, which committed to $700 million, according to the filing with the U.S. Securities and Exchange Commission.

    Also, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has pledged 35 million Twitter shares worth about $1.76 billion, according to the filing.

    The 18 investors are a 鈥渨ho's who鈥 list of Wall Street and Silicon Valley investment firms, said Wedbush analyst Dan Ives, who follows Twitter and Tesla. Before Thursday's announcement, Ives gave the deal a 75% chance of closing, but now it's 90% or 95%, he said.

    The high profile investors show 鈥渢hat it's not Musk single-handedly trying to turn around Twitter,鈥 Ives said.

    Other investors backing Musk are technology venture capitalist Ben Horowitz, who said his firm, known as Andreessen Horowitz, or a16z, is putting in $400 million because it believes in Musk's 鈥渂rilliance to finally make it what it was meant to be.鈥

    鈥淲hile Twitter has great promise as a public square, it suffers from a myriad of difficult issues ranging from bots to abuse to censorship,鈥 Horowitz tweeted Thursday. 鈥淏eing a public company solely reliant on an advertising business model exacerbates all of these.鈥

    Sequoia has invested in Zoom, DoorDash, Apple, Netflix and others. 鈥淲e help the daring build legendary companies,鈥 is a headline on its website.

    The firm has a long history with Musk. It was an early investor in what would become PayPal, which Musk co-founded and was sold for $1.5 billion in 2002.

    A $500 million commitment from cryptocurrency exchange Binance raised the possibility that Musk plans to incorporate cryptocurrencies and related technologies into his vision for Twitter, in the mold of so-called Web3 businesses that aim to create a new stage of the internet. Andreessen Horowitz has also in recent years prioritized investing in cryptocurrency startups.

    鈥淲e're excited to be able to help Elon realize a new vision for Twitter,鈥 Binance CEO Changpeng Zhao said in a statement Thursday. 鈥淲e hope to be able to play a role in bringing social media and web3 together and broadening the use and adoption of crypto and blockchain technology.鈥

    Qatar's sovereign wealth fund, which is contributing $375 million, declined comment Thursday.

    Originally Musk had committed to borrowing $12.5 billion with Tesla stock as collateral to buy San Francisco-based Twitter. He also would borrow $13 billion from banks and put up $21 billion in Tesla equity.

    Money from the new investors cuts the amount borrowed on the value of Tesla stock to $6.25 billion, according to the filing. The Tesla equity share could go from $21 billion to $27.25 billion.

    But Ives said he expects Musk to reduce the equity share with money from more investors. Musk is balancing any adverse impact on Tesla stock against his desire to buy Twitter, Ives said. 鈥淗e wants Twitter, but you can't sacrifice the golden child to get it,鈥 Ives said.

    Tesla shares closed Thursday down 8.3% at $873.28 as the broader markets fell. Analysts say investors are concerned that the Twitter bid may distract Musk from Tesla, SpaceX and his other companies.

    Twitter shares closed up 2.7% at $50.36, edging closer to Musk's offer of $54.20.

    Musk in earlier regulatory filings revealed that he has sold roughly $8.5 billion worth of shares in Tesla to help fund the purchase. Musk later tweeted that he doesn't plan any further sales of the company's shares, meaning he would need outside commitments to help fund the $44 billion deal.

    Last November, Musk began selling shares, which he said on Twitter would go to pay for his tax obligations on stock options that are part of his all-stock compensation package. Last year he sold more than 15 million shares worth roughly $16.4 billion.

    CTVNews.ca Top Stories

    A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    Why brain aging can vary dramatically between people

    Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    Canada

    • A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    • Two nephews of the beloved Harry R. Hamilton share stories about his life and legacy.

    • The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    • A man who was critically injured in a police-involved shooting in Hamilton late Sunday afternoon has died in hospital, says the province鈥檚 police watchdog.

    World

    Politics

    • Murray Sinclair鈥檚 family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale鈥擫angley City will pick their next member of Parliament on Dec. 16.

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    Autos

    Local Spotlight

    For the second year in a row, the 鈥楪ift-a-Family鈥 campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts 鈥 not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • LIVE

      LIVE

      Thousands of people are gathered in downtown Vancouver to observe the city鈥檚 100th Remembrance Day ceremony.

    • A suspect was arrested for allegedly brandishing a knife outside a Vancouver elementary school on Friday 鈥 just as the young students were heading home for the day.

    • Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift鈥檚 upcoming Eras Tour, which will be making a stop in Canada鈥檚 largest city for a six-show run later this month.

    • One man was transported to hospital early Monday morning after a stabbing in the northwest end of the city, Toronto police say.

    • Calgarians will be observing Remembrance Day at a number of different ceremonies across the city, including at the Hangar Flight Museum.

    • Getting out to the mountains is even easier with a new bus route from a growing Germany-based service.

    • A home in the northeast Calgary community of Saddle Ridge was damaged in a fire on Sunday.

    • CTVNewsOttawa.ca looks at Remembrance Day ceremonies in Ottawa.

    • After months of controversy surrounding a dog park in Ottawa's west end, a solution has been reached to divide the park in half.

    • With fewer interments and rising maintenance fees, the money for Canada's largest military cemetery will run out in three to four years.

    • Montreal Metro passengers can now flag a safety concern by texting a new phone number launched by the STM.

    • The employers association at the Port of Montreal locked out nearly 1,200 longshore workers, bringing a halt to traffic at the port.

    • LIVE @ 10:45 A.M. MT

      LIVE @ 10:45 A.M. MT

      Monday is Remembrance Day, a time to honour armed forces members who have died in the line of duty.

    • WEATHER

      WEATHER

      This is shaping up to be one of the warmest Remembrance Days in the past decade, at least, for temperatures.

    • Maritimers will stop Monday to remember those who have served, and continue to serve, in Canada's armed forces for Remembrance Day.

    • A Cape Breton senior recalls her life in German-occupied France, and her mother鈥檚 death, during the Second World War.

    • Thousand of people gathered at the Menin Gate in the Ypres, Belgium for Monday鈥檚 Remembrance Day Ceremony.

    • Remembrance Day is today, and a number of ceremonies are taking place around the province to honour those who gave their lives to serve our country.

    • A pillar in Canada鈥檚 history was honoured in Winnipeg Sunday afternoon, with thousands showing up to pay tribute to the life and legacy of the late Murray Sinclair.

    • Winnipeg police have identified two men involved in a stabbing incident earlier this week.

    • There will be two ceremonies taking place in Regina for Remembrance Day, hosted by the Royal Canadian Legion.

    • Regina author Valerie Crowther is celebrating the release of her book 鈥榃ar Letters: Linking Lives in the Second World War.鈥

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.

    • Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.

    • A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    • Three people were taken to hospital after a plane crashed in the Municipality of Southwest Middlesex.

    • A Barrie man is at the centre of an alleged $2.2 million stolen used car scheme.

    • Environment Canada issued a weather alert for Barrie, Collingwood and surrounding areas, alerting residents about the wicked winds that are expected to pick up to 80 kilometres per hour in the afternoon hours.

    • Barrie residents gathered on Monday to honour Canada鈥檚 veterans and pay tribute to those who served and sacrificed for the country.

    • Representatives of the Windsor Veterans Memorial Services Committee, military representatives, wreath bearers, government officials, and members of the public will attend the Cenotaph at City Hall Square for the outdoor service.

    • Windsor Paralympic champion, Danielle Campo, has been crowned the number one Inspirational Speaker of the Year for 2024 at the Inspirational Speaking Finals.

    • One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.

    • Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.

    • Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.

    • The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year鈥檚 host for the Southern Alberta Summer Games.

    • The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.

    • There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.

    • It was just days before the COVID-19 pandemic shut the world down when the Shaft Bottom Boys of Sudbury broke a world record for 'Deepest Concert Underground.' Now, more than four years later, a Timmins band is looking to take the title.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    • Mayors of the five largest cities in northern Ontario met in North Bay the last two days to discuss a range of critical issues impacting their cities and the region.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at 麻豆影视. We may earn a commission when you use our links to shop.聽Read about us.

    Stay Connected
    Follow 麻豆影视