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He’s burning money because he loaded the company with a billion dollars of debt Without that debt Twitter was in much better shape
by youngtaff 4y ago
He’s burning money because he loaded the company with a billion dollars of debt
Without that debt Twitter was in much better shape
- vorpalhex 4y agoTwitter took the debt. Twitter did not have to take the debt. Twitter made that choice before agreeing to Elon.
- _djo_ 4y agoNope. This was taken on as part of Musk's acquisition which is structured as a leveraged buyout and saddled Twitter with nearly $13 billion in additional debt. Twitter's annual debt service cost before Musk took over was an entirely manageable $60 million a year. Now it's somewhere around $1 billion.