The absolute monarchy is repeatedly criticized for human rights violations. In its 2021 report, human rights organization Amnesty International wrote of Qatar: “The authorities continued to restrict freedom of expression in 2021 and used vaguely worded laws to silence critical voices.”
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These are the other sponsors
In addition, venture capital firms Sequoia ($800 million) and Andreessen Horowitz ($400 million), financial services firm Fidelity ($316 million) and crypto exchange Binance are also among the backers.
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Binance starts with $500 million. Co-founder Changpeng-Zhao said in a statement: “We are excited to support Elon in its new vision for Twitter.” He hopes that this will expand the use of cryptocurrencies and blockchain technology.
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Funding planned through Morgan Stanley
Musk agreed to the takeover in April after days of bickering with Twitter’s board of directors. However, he is dependent on enough shareholders giving him their shares. If he succeeds, the Tesla boss wants to take Twitter off the stock exchange.
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Musk had already set up a $46.5 billion financing framework for the deal with the help of banks like Morgan Stanley. Of that, however, $25.5 billion are loans, some of which are secured with his Tesla shares.
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Musk initially wanted to raise up to $21 billion himself. He was still looking for other investors for this. That share has now been raised to $27.25 billion. At the same time, Musk reduced a loan from $12.5 billion to $6.25 billion.
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