How Diddy Giving Elon Musk $10 Million Helped Him Buy Twitter & Earn Rapper ‘Seat At The Table’

Though Elon Musk‘s reported nett worthy is astir $200 billion, it’s not similar the arguable entrepreneur is Scrooge McDucking it by sleeping connected a elephantine heap of cash. So, erstwhile helium yet went done with the $44 cardinal deal, Musk, 51, utilized idiosyncratic assets, concern funds, and slope loans to wage the terms tag. One of the investors who chipped successful to screen the outgo was Sean “Diddy” Combs, according to TMZ. Diddy, 53, reportedly invested “north of $10 million” successful the deal, according to the publication’s sources.

Diddy’s concern reportedly “revolves astir having a spot astatine the array to represent,” according to TMZ. Diddy’s past large Twitter quality came erstwhile Kanye “Ye” West returned to Twitter aft helium was kicked disconnected of Instagram aft sharing antisemitic remarks made successful a speech with Diddy.

The quality besides came the aforesaid time that Diddy announced that he’d acquired Cresco Labs and Columbia Care’s divestiture successful 3 markets, creating the archetypal minority-owned, vertically integrated multi-state operator. Diddy’s concern created the largest Black-owned cannabis institution successful the world, a large connection since cannabis prohibition affected BIPOC communities overmuch harsher than White communities.

TMZ besides reports that “Diddy and the remainder of Elon’s Twitter investors judge successful Elon’s imaginativeness for the vertebrate app,” though the work didn’t accidental what that imaginativeness was. As of Friday, Nov. 4, that imaginativeness included monolithic layoffs that resulted successful Twitter Inc. temporarily closing its bureau doors and cutting workers’ entree to interior systems. Twitter, aka Elon, told its employees that “they would beryllium informed by email astir whether they were being laid off,” per Reuters.

Diddy and Elon (Image Press Agency/NurPhoto/David Fisher/Shutterstock)

“In an effort to spot Twitter connected a steadfast path, we volition spell done the hard process of reducing our planetary workforce connected Friday,” an interior email reportedly read. Elon is looking to chopped “half the workforce, arsenic helium seeks to slash costs and enforce a demanding caller enactment ethic.”

Elong reportedly sold astir $15.5 cardinal successful Tesla shares earlier successful the twelvemonth to assistance concern the deal, per Al-Jazeera. Though Elon had hoped to debar paying much than that, helium ended up contributing $27 cardinal successful currency for the transaction. $5.2 cardinal came from concern groups and important funds, portion the remaining $13 cardinal is from slope loans, including from Morgan Stanley, Bank of America, Japanese banks Mitsubishi UFJ Financial Group and Mizuho, Barclays and the French banks Societe Generale and BNP Paribas. The loans are “guaranteed by Twitter, and it is the company, not Musk himself, which volition presume the fiscal work to wage them back.”

Brands similar General Mills, the Volkswagen Group, Toyota, and others person paused advertizing connected the level successful the aftermath of the shakeup, per CNN. This has shaken Elon to the constituent wherever helium tweeted connected Friday (Nov. 4), “Twitter has had a monolithic driblet successful revenue, owed to activistic groups pressuring advertisers, adjacent though thing has changed with contented moderation.” He besides chastised “activists” for trying to destruct escaped speech.

It should beryllium noted that usage of the N-slur accrued by 500% successful a 12-hour play aft Musk purchased Twitter. Yoel Roth, astatine the clip Twitter’s caput of information and integrity, blamed the emergence connected a “trolling campaign,” saying that lone 300 accounts were to blasted for the emergence successful the hatred speech, per Variety.