Diddy Wrote $10 Million Check To Help Elon Musk Purchase Twitter
Nov. 4 2022, Published 2:39 p.m. ET
Elon Musk gets by with a little help from his friends, apparently. Diddy was among the wealthy investors who funded Musk's deal to purchase Twitter. The legendary rapper reportedly gave Musk $10 million as an investment for the social media sale, RadarOnline.com has learned.
The Tesla founder officially bought the social networking site for $44 billion at the end of October. Musk wasted no time in his new role, already rolling out changes on current Twitter employees — including a massive layoff of the company's top officials with more expected to come.
According to sources, Diddy invested in Musk's purchase because he "believes" in Musk's vision for Twitter, in addition to wanting "a seat at the table."
Diddy's iconic presence in the music industry helped propel him to hit billionaire status like Musk.
Diddy is among Wall Street loans and other high-profile wealthy investors that allowed Musk's deal to come to fruition. While the two seem like an unlikely business pair, they share similar circles. Both were spotted at Kanye West's Donda 2 experience in February and Dave Chappelle's show in May.
While Musk has referred to himself as "Chief Twit" and promised free speech to thrive on the site, the Twitter takeover has been going as smoothly as a Tesla crash.
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One of the first moves the new Chief Twit made was to fire four top executives. The rash move had consequences, and Musk faces the possibility of a massive payout to the fired staffers after borrowing cash for the move to happen in the first place.
Former Twitter CEO Parag Agrawal had been set to receive $60 million if nixed — but Musk claimed the layoffs were "for cause," which could prevent the lump sum from making its way to the other former executives.
With a potentially massive payout on the back burner, Mask turned his attention during the first days of his takeover to charging users to keep their verified status.
Originally, Musk suggested a $20 per month fee to keep the blue verification check next to users' names. After receiving backlash from users and being heckled by author Stephen King, Musk reversed his initial price down to $8.
Nonetheless, users remained unsatisfied with the move and have raised concerns about how the paid verification would affect news sites and the spread of misinformation.
In addition to misinformation fears, many remain on high alert for the return of former president Donald Trump to the social site — which he was banned from, causing the formation of his own social site, Truth Social.
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