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Even if he's forced to buy Twitter, let's not forget that... he will own Twitter. I'm not sure that's a net positive for the world. Though I'm not certain it's
by rwiggins 4y ago
Even if he's forced to buy Twitter, let's not forget that... he will own Twitter. I'm not sure that's a net positive for the world. Though I'm not certain it's a net negative either.
And though it may well be expensive, it's not as if the $44 billion disappears: in fact it buys Twitter. And though he might regret it all in the end, he'll still have enormous wealth. (And Twitter.)
So... it does feel a bit like a pyrrhic victory to me.
- chx 4y agoHe doesn't have the money any more...
- judge2020 4y agoEven after today's 7% TSLA loss he's worth over 150 billion in Tesla stock alone; Twitter will be a huge chunk of his wealth but it's not more than a third of it. Note that the loans were secured with TSLA stock as collateral, but even if those expire he'd be able to secure funding again if he was forced to proceed with the purchase by the Delaware Court of Chancery.
- chx 4y agohttps://thenextweb.com/news/elon-musk-telsa-shares-loan-twitter-deal-analysis https://thenextweb.com/news/elon-musk-telsa-shares-loan-twit... > Musk's equity commitment now stands at $33.5 billion > May 26, 2022 > But in the latest filing, he’s completely removed this loan in the financing plan to acquire the social media company. If he needs to sell thirty billion dollars worth of Tesla shares it is going to devalue the stock quite a bit. That's a full day volume of trading.
- judge2020 4y agoThe market won't react harshly given it'd only happen if compelled by court order, and it still would simply be stock transferred to the banks with the banks selling it off over years to recoup their loan amount.