According to reports, sources close to the entertainment mogul confirm that Diddy was one of the investors that aided Musk in securing ownership of the social media platform. The Tesla founder and CEO agreed to purchase Twitter for $44 billion and the deal was finalized on Oct. 28 after an extended back-and-forth in the courts.
Diddy’s investment is believed to be estimated at $10 million. His stake includes him in a varied group of investors which besides Wall Street banking firms, reportedly also includes Twitter co-founder Jack Dorsey and Prince Alwaleed bin Talal of Saudi Arabia. The latter’s involvement has already caused great concern among some in the federal government who feel it poses a great security risk.
As for Diddy, his involvement is part of a bigger strategy to have more Black people at the tables of industry. The same sources claim that he has a firm belief in the vision Musk has for the company, but that has yet to be fully detailed by him a week after his acquisition. The budding partnership was revealed as four text messages between the two were disclosed as part of the discovery phase of Musk’s legal wrangling with Twitter in May.
The two do seem to get along, as they were hanging out a few seats from each other in the front row of Dave Chappelle’s show at the Hollywood Bowl in May – the same show where the comedian was attacked by someone who jumped on the stage. They also were part of the group of celebrities who took in Ye aka Kanye West’s Donda 2 concert experience in February. It remains to be seen if Diddy will make any public statements given Musk’s recent mishaps since taking over, which include introducing payments for verification and the rise of racial slurs by users on the platform.