Twitter, owned by businessman Elon Musk since October 2022, has been delaying payments to Oracle IT Corporation for several months. According to this business insiderOracle co-founder Larry Ellison helped finance Musk’s social network acquisition and is one of the billionaire’s close friends.
“Oracle representatives have started making direct calls to current and former Twitter employees to collect payments for overdue invoices that exceed six figures,” one source said.
Oracle has been providing data storage services to Twitter for several years. Twitter’s owner has repeatedly refused to pay multiple companies and providers for cloud services, including Google and Amazon.
According to the publication, Musk did not make an exception for Elliot, despite their close relationship. But as the sources reveal, Oracle’s co-founder also plans to receive cash for the full services rendered.
In 2022, Ellison invested $1 billion in Musk’s $44 billion acquisition of Twitter, making the former head of Oracle one of the biggest investors in the deal. Ellison is one of Musk’s most active supporters, having served on the Tesla board in the past.
As of early June, Elon Musk is no longer CEO of Twitter. Business man quietly resigned from his postand the post is now occupied by former NBCUniversal advertising director Linda Iaccarino.
The billionaire has served as CEO since purchasing Twitter for $44 billion in October 2022.