I wanted ‘a seat at the table’ so I pumped $10m in Musk Twitter takeover – Rapper Diddy
Hip-hop music legend, Diddy was one of the investors who helped Elon Musk buy Twitter for $44billion after the rapper pumped $ 10million into the bid, it has been revealed.
The 53-year-old is said to have wanted ‘a seat at the table’ so helped Musk with his billion-dollar social media takeover.
Elon Musk bought the tech company for $44 billion last week and has already made his presence known by firing hoards of staff across the globe and re-instating accounts that were previously suspended.
He was able to take over Twitter with the help of wealthy investors – including Diddy – and loans from Wall Street banks.
According to TMZ, sources say that Diddy’s investment comes from the fact that he ‘believes’ in Musk’s vision for the social media giant.
Diddy recently ascended to billionaire status, making him one of the most wealthy artists in the music industry, according to former Forbes editor Zack O’Malley.
The Tesla CEO, who has given himself the title of ‘Chief Twit’, fired four executives shortly after taking over, who had been owed millions under the merger agreement – lodging the dissolvement on Thursday November 3.
Former CEO Parag Agrawal had been set to receive up to $60million alone, but Musk sacked them all ‘for cause’ – though it is unclear his reasons behind the move.
Agrawal and chairman Bret Taylor are no longer on the board of directors after Musk’s $44bn takeover.
Martha Lane Fox, Omid Kordestani, David Rosenblatt, Patrick Pichette, Egon Durban, Fei-Fei Li, and Mimi Alemayehou have also been ousted from their positions after the SpaceX chief’s overhaul.
As well as sacking Agrawal, Musk also fired CFO Ned Segal, Chief Legal Officer Vijaya Gadde, and General Counsel Sean Edgett.
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