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Maybe I'm too cynical but I really don't think Elon is doing this for some high minded free speech principles. > He's got the $40 billion to spare He really d
by rurp 5y ago
Maybe I'm too cynical but I really don't think Elon is doing this for some high minded free speech principles.
> He's got the $40 billion to spare
He really doesn't though, which is part of why I think this is all a big joke. The vast majority of his fortune is tied up in his ownership of several companies. The Tesla shares are the most liquid, but he's already borrowing a lot against them.
Is he really going to sell a large portion of his SpaceX or Tesla ownership to fund a Twitter lark? I doubt it.
No institutional investor is going to commit billions of dollars to an investment that is explicitly not about making money. The only way he raises third party money for the purchase is if those investors understand that Elon is lying.
> Musk isn't worried about losing the money, which means he can act out of principles rather than fear.
Musk talks a lot about pursuing projects out of principle rather than for profit, while his actions have lead to becoming the richest person in the world. Color me jaded, but I don't think one becomes
the richest person in the world without trying really hard to make money. Disguising it as magnanimous behavior only helps.
- hackerfromthefu 5y agoYour assertion that he doesn't have 40 billion to spare seems unfounded. Let's look at some actual maths. His net worth has soared in the last 2 years. Forbes (1) has a historical chart with his 2020 NW at 20 Billion, and current at 269 Billion. Is there any indication that his borrowings against his shares has increased in ratio with their appreciation. I can't find info on that but the forbes articles notes the borrowings were subtracted from that NW. As to what his borrowings were, there's a few articles I found that he had .5 Billion of personal loans in 2020. Since then he sold a lot/all of his houses. His NW also increase by 500 times that amount. Just can't credit your assertion that he couldn't borrow $40 Billion at the drop of a hat with some of his increased 250B share value as collateral. 1 https://www.forbes.com/profile/elon-musk/?list=rtb/&sh=35da44a07999 https://www.forbes.com/profile/elon-musk/?list=rtb/&sh=35da4...