They are apparently trying to convert the loans to margin loans backed by Tesla stock. https://www.bloomberg.com/news/articles/2022-12-08/musk-bankers-mull-tesla-margin-loans-to-cut-risky-twitter-debt |
Mindboggling how the lenders thought Musk would be able to generate enough new cashflow to pay another $1.2 bn a year. Greed is good. |
They didn't. They thought they would just offload it all to a bunch of suckers. But that was before he spent months dragging Twitter through the mud trying to get out of the deal, and then a couple more months destroying its ad business after he bought it. Now they are freaking out that he's going to bankrupt the company and they'll be stuck with worthless debt. No idea why Musk would agree to convert these to margin loans. |
Um, see the post right above yours? A lot of companies have pulled their ads. And my eyeballs don’t make him any money. I don’t click on the ads I get either - they’ve been reduced to scam gold investing, novelty tshirts, Sistema Fedecredito in El Salvador, and of course Fox. |
Maybe has had some spare Dogecoin in a digital wallet on an old laptop. |
They were holding $6.5 billion in leveraged loans. No way this was ever going to end well even before the Fed went rate hike crazy. |
He won't. He wasn't stupid enough to risk that much of his own money. |
He's still going to take a bath when it goes bankrupt. From what I understand, he put something like $7B of his own money into it. But he's certainly not going to agree to put another $12B at risk. |
Musk leveraged his TSLA shares. He’s got no cash to put in the deal, either then or now. |
Mad respect for the fragile ego of the techbro yelling “I’m rich, b1tch” into a microphone at a Dave Chappelle concert while trying to drown out a chorus of boos. |
He has sold $21B of tesla shares in 2021 and another $19B this year. https://www.cnbc.com/2022/11/08/elon-musk-sells-at-least-3point95-billion-worth-of-tesla-shares.html |
Flying around on private electric jets is expensive. |
Musk has faced billions in margin calls because Tesla stock has decreased by half this year. |
Dave Chapelle is a right-wing hack? |
SpaceX Starlink Boring SolarCity Dogecoin It’s not like these companies observe corporate formalities in day-to-day operations. |