I haven't verified, but this seems likely:
Discussion
she's right, albeit the Saudi's did put up the initial money offering and backed Elon for that insane valuation.
Not sure if I’m misunderstanding , but they didn’t put up any new money , what they did is roll over their shares from back when twitter was publicly traded , they decided to keep it and convert it to equity when it got privatized
new money? proposed because Elon was scrambling. I assume the wagered a better deal than fronting cash.