4 ms·
It's valued at 1/3 the price he bought it. He can't sell it even at that price. He's stuck with it.
by 3cats-in-a-coat 3y ago
It's valued at 1/3 the price he bought it. He can't sell it even at that price. He's stuck with it.
- WentFullRetard 3y ago[dead]
- Zigurd 3y ago1/3rd is generous. Xitter hasn't been pushed into bankruptcy because the LBO lenders, among them Fidelity, who announced that 1/3rd valuation, don't want the task of cleaning up the mess. There is very likely a financial mess behind the scenes: Elon has probably made personal loans to Xitter to make LBO loan payments. He has ride-along equity investors who do not want to be diluted, and bankers who don't want to own it, but could if they think Elon is going to violate loan covenants in ways that would get noticed by regulators.