Binance, Fidelity, Sequoia and 15 others are investing $ 7,1 billion in Twitter

Binance, Fidelity, Sequoia and 15 others invest $ 7,1 billion in Twitter - twitter 56b007105f9b58b7d01f9190 scaledElon Musk's acquisition of Twitter is one of the highlights this year, as a major social media platform is now owned by the richest man in the world.

But while many opposed this monopoly on Twitter, many others saw this as an emancipation from council control.

Now, Musk hasn't stated any plans to turn it into a public company, but Twitter is already receiving financial commitments from major organizations.

Binance commits $ 500 million

In an amendment to Schedule 13D archive, Musk announced that the social media platform has received financial commitments of $ 7,1 billion from 18 investors subject to the conditions set forth in the Co-Investor Equity Commitment Letters. 

Among these investors was Binance, the largest cryptocurrency exchange in the world, which pledged approximately $ 500 million. However, it wasn't the highest amount, as some others put in a lot more effort.

These included VyCapital with $ 700 million and Sequoia Capital Fund, LP which pledged $ 800 million.

However, the highest contribution came from the Lawrence J. Ellison Revocable Trust, which has invested about 1 billion dollars. Other investors included Brookfield, Fidelity Management and Qatar Holding.

The contributions arrived at or immediately prior to the close of the merger.

The same was also confirmed by Binance founder and CEO Changpeng Zhao.

Since Musk bought Twitter for $ 44 billion, both the billionaire and the social media platform have made headlines for various reasons.

But this development, in which major players in the industry are showing their support for Musk's purpose, makes it seem like there is potential for improvement.

Musk wants to get his taxes paid

The flurry of ideas Musk had with Twitter, including turning the venue into a shelter, slowly morphed more seriously recently when Musk tweeted:

"Twitter will always be free for casual users, but perhaps a slight cost for commercial / government users."

And since it's taking action on its previous decisions to remove bots from comments, it could also take action to charge commercial and government users.

Recently, Twitter introduced a new downvote button for its mobile application through which a spam bot can be identified and reported.

Thus, Musk and his supporters will only stop when they have completed their mission to fix Twitter.