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>He bought it for 44 billion. That was mostly loans. That's not true if media reports about the purchase was accurate. The debt financing was only $13 billion
by jasode 4y ago
>He bought it for 44 billion. That was mostly loans.
That's not true if media reports about the purchase was accurate. The debt financing was only $13 billion:
https://www.google.com/search?q=musk+buys+twitter+%22%2413+billion%22+debt https://www.google.com/search?q=musk+buys+twitter+%22%2413+b...
The more complete funding structure[1] looked like this:
+ $24 billion : Elon Musk personal wealth (e.g. selling some of his TESLA stock to raise money)
+ $7 billion : other equity investors (Saudi Arabia prince, Larry Ellison, etc.)
+ $13 billion: bank loans
The Twitter puchase was mostly Elon's personal money (~54%) and not debt.
[1] https://archive.ph/L6Mhv https://archive.ph/L6Mhv
- psychoslave 4y agohttps://thepolicytimes.com/top-10-richest-people-worth-more-than-85-poorest-countries-gdp/?amp=1 https://thepolicytimes.com/top-10-richest-people-worth-more-... So, a handle of individuals can dwarf most countries GPD.
- tazjin 4y agoAnd a couple of small countries can dwarf that entire group ;) https://www.nbim.no/ https://www.nbim.no/
- saagarjha 4y agoThat's only like $1 trillion, so just several of the world's richest people.
- syntaxfree 4y agoGDP is a flow per year. Like the flow of water through a pipe. Wealth is a stock. Like the quantity of water in a barrel. Please pass this on when you see this cheap talking point, thanks.