Billionaire Elon Musk raised $7.14 billion in funding from a group of investors, including Larry Ellison, co-founder of Oracle Corp, and Sequoia Capital to finance his acquisition of Twitter for $44 billion.         

The disclosure showed that Saudi investor Prince Alwaleed bin Talal, who initially opposed the purchase, also agreed to convert his $1.89 billion stake into the deal instead of selling it for cash.          

The move comes as Musk's margin loans were reduced to $6.25 billion from the previously announced $12.5 billion.

Musk's total financial commitment of $21 billion was also revised to $27.25 billion.

The disclosure showed that Musk will continue talks with current Twitter shareholders, such as former CEO Jack Dorsey, to contribute shares to the acquisition.             

Among the group of investors is also Qatar Holding, which offered $375 million, and Vy Capital worth $700 million, which also invests in another Musk project, The Boring Company.          

Reuters reported last week that Musk held talks with major investment firms and billionaires about obtaining more funding for his Twitter acquisition and reducing his own money in the deal.

Larry Ellison, a Tesla board member who describes himself as a close friend of Musk, allocated $1 billion for the funding.