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Elon Musk is a billionaire among billionaires. There are 3,194 billionaires; only one is worth $250B+. To compare all billionaires to Elon Musk is by itself fa

Elon Musk is a billionaire among billionaires. There are 3,194 billionaires; only one is worth $250B+. To compare all billionaires to Elon Musk is by itself fallacious. > He then somehow came up with the 40-50 billion to buy twitter. No, he didn't. He got a loan from 7 banks, in combination with his own funds, and using Tesla stock as collateral. This allowed him to avoid selling too much stock, while placing repayment obligations for that loan on X as a company. He also was able to reuse a Twitter stake that he purchased earlier.

genewitch 2y ago
So i could go to 7 banks and get 40 billion? interesting to note. Please note: >this is what it read like to the average american that was paying attention to it at all. It doesn't matter if the above "isn't what really happened" - that's what was presented, in the rough order it was presented. Also you did the thing whereby Musk's "net worth" somehow matters when this thread has folks talking about how that is all "just on paper".
- bombcar 2y ago
  “Just on paper” can mean “doesn’t actually exist at all” - like the dollar amount a startup is “worth” right after a funding round - or it can mean “not easily and immediately accessible”. Musk really does control billions of dollars in value of real companies, but even he found it difficult to get $40 billion in cash quickly. Banks, on the other hand, can produce billions in cash pretty quickly - if they feel the collateral is good for it, even if they have to wait. They make money turning time into money and money into time, after all.