Imagine if you will, Elon writing a check to twitter so they have the funds to cover all of his mistakes.
Elon, like Trump, has no money. He has credit and idiots willing to give it to him.
Oh yeah, definitely doesn’t have literal billions in Tesla/SpaceX stock that he could liquidate.
I’m so sick of people who clearly don’t understand how money works giving their opinions. I don’t like Elon any more than the next guy but the internet has truly shown me how hatred of someone leads to the smoothest brain takes imaginable.
He has credit and idiots willing to give it to him.
For which they usually use their stocks as collateral, right?
Read the first sentence “Elon, like trump, has no money.”
That’s objectively untrue, he has money tied up in non liquid assets that he can sell at whatever their retained value is.
What he’s using that for in terms of collateral is irrelevant when he absolutely has plenty of money waiting to be returned to his bank the moment he gets tired of running businesses.
That would mean Elon admitting he made mistakes
Now imagine suing the company that hired the employees that you refuse to pay.
How’d his family get rich again? 🤔
- emerald mines
- in South Africa
- during the Apartheid
I think we’ve established that Elon, in fact, cannot run Twitter better if he owned it.
He can sink it though, just like he said with his viral picture.
$500m to Elon is like $500 to the average American
Not so much at the moment.
He borrowed 44 bn to buy Twitter and has a 1.5 bn payment coming up.
He is of course more liquid than any of us, but the fact that he keeps not paying various bills seems to indicate that he’s having cash flow problems and is having to scrounge for his loan payment.
This is just one of many multi million dollar payments that musk and/or Twitter are fighting.
Eh. He can sell his tesla stock anytime he wants cash, he just would have to pay taxes on it and instead would likely borrow against it. Oh the sad pitiful life of our beleaguered oligarchs.
That, and selling $1.5B of Tesla stock would tank the stock price. Especially if he does it every single time he has to make a payment.
At least in Russia you have to be Russian or a closely affiliated state to attain that level of influence
Plus you get defenestrated if you piss off the government.
He did not borrow 44 billion to buy Twitter.
He put about ~13 billion dollars of debt on Twitter itself, so he had to come up with about 31 billion in equity. He was able to secure third party equity commitments of around 7 billion (Larry Ellison, the Saudis, etc.). He also held a minority interest of about 4 billion in Twitter. He funded the remaining 20 odd billion with a combination of cash (from cash holdings and selling Tesla shares in early 2022) and equity margin loans on his remaining Tesla shares. It is understood that he likely paid off most of his margin loans as he continued to sell further Tesla shares in late 2022.
The 1.5 billion interest expense you mention is just for the bank debt (that the banks still hold, and have been unable to sell), and is Twitter’s responsibility, not Elon’s.
This is a long way of saying that I think the banks will own Twitter within 6-12 months. They will not roll over like landlords, and its far more clear cut for a missed loan payment.
He needs more shovels!
I’ll lend him my bootstraps at the same rate as my student loans: 12.5%
Disclaimer: I am not American
I believe Musk is actually a Canadian citizen.
Huh…TIL! I thought he was SA
