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It's so annoying how any press around twitter makes it sound like Elon had 44 bills lying around to personally buy the company for himself. He may have put hims
by jazzyjackson 3y ago
It's so annoying how any press around twitter makes it sound like Elon had 44 bills lying around to personally buy the company for himself. He may have put himself in charge with that money, but whose money was it again?
- Someone 3y agohttps://en.wikipedia.org/wiki/Acquisition_of_Twitter_by_Elon_Musk#Takeover_bid https://en.wikipedia.org/wiki/Acquisition_of_Twitter_by_Elon...: “On April 20, Musk disclosed that he had secured financing provided by a group of banks led by Morgan Stanley, Bank of America, Barclays, MUFG, Société Générale, Mizuho Bank, and BNP Paribas, for a potential tender offer to acquire the company.[30][31] The funding included $7 billion of senior secured bank loans; $6 billion in subordinated debt; $6.25 billion in bank loans to Musk personally, secured by $62.5 billion of his Tesla stock; $20 billion in cash equity from Musk, to be provided by sales of Tesla stock and other assets; and $7.1 billion in equity from 19 independent investors.“ So, about 56% was Musk’s money and, if I’m understanding that correcly, 28% Twitter’s, 16% independent investors.
- rsynnott 3y agoImagine being the person at one of those banks who signed off on this.