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Can someone explain to me how is it possible that a person takes out a loan, but then a company that the person owns is responsible for the loan?
by europeanguy 4y ago
Can someone explain to me how is it possible that a person takes out a loan, but then a company that the person owns is responsible for the loan?
- everfrustrated 4y agoWelcome to capitalism for the rich
- tppiotrowski 4y agoMaybe Elon is still responsible for the loan but maybe Twitter is the collateral. If he fails to repay the loan, the bank seizes Twitter assets but Musk's personal wealth is untouched. Similar to how LLC's shield their owner from being financially responsible.