4 ms·
To think how close Wall St was to selling this turd to Investors.... JP Morgan says the company was worth somewhere between 46 -63 Billion, Morgan Stanley esti
by hourislate 7y ago
To think how close Wall St was to selling this turd to Investors....
JP Morgan says the company was worth somewhere between 46 -63 Billion, Morgan Stanley estimated 43-104 Billion. Their lease obligations are over $40 Billion and the company loses billions every year. The next recession in Commercial Real Estate space will wipe them out sticking Landlords with billions in losses including upgrading buildings to accommodate them.
If it weren't for SoftBank using money from the Saudis Vision Fund as well as other sovereign funds like Abu Dhabi's, I have no idea if they would/could exist. These funds are going to take a bath unless they can convince someone to buy into it.