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Company of Russian businessman will invest in Musk’s deal with Twitter — Bloomberg

Earlier, Alexander Tamas put money into rocket company SpaceX and brain-machine maker Neuralink Corp., which also belong to Elon Musk

NEW YORK, June 9. /TASS/. Dubai-based investment firm Vy Capital, owned by Russian businessman Alexander Tamas, has committed $700 mln to finance Elon Musk’s bid for Twitter social network, Bloomberg reported on Thursday.

According to the agency, Vy Capital became the third-biggest outside equity investor in the deal that’s drawn money from billionaire Larry Ellison and Sequoia Capital.

Bloomberg noted that earlier Tamas put money into rocket company SpaceX and brain-machine maker Neuralink Corp., which also belong to Musk.

On April 25, Twitter executives announced that Musk would acquire the company for $44 billion. On May 13, Musk announced he's putting his takeover of Twitter "temporarily on hold," saying that he wants more details about how many of the social platform's accounts are fake or spam. He said he needs to make sure fake accounts "do indeed represent less than 5%" of Twitter's users. Such an estimate was given in the company's report, published on May 2. According to the entrepreneur, there are currently more than 20% of fake accounts on the social network.

According to the US Securities and Exchange Commission, if the billionaire decides to terminate the agreement, he will have to pay the company a $1 billion fine. If Twitter initiates the termination, Musk will receive a compensation. The closing date for the deal is set for October 24.