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Advertising revenue in Twitter crashes by 50%
(lemmy.world)
nuff said
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this post was submitted on 15 Jul 2023
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I mean, this is about twitter, why bring up Tesla?
well, wasn't me, also you can't tell if he said that about Musk or Twitter, since he used "you're" which applies to both and since it's about Twitter it makes more sense that it's Twitter who is the "you" in the comment.
As someone else said, I think it's pretty clear they meant Twitter.
By my memory of the news at the time he had to take out a significant amount of debt to complete the purchase of Twitter, meaning that failing to make those mind boggling number of millions of dollars per month in debt payments would put him at risk of his assets being seized, such as his significant stake in Tesla.
The overwhelming majority of his wealth is tied up in Tesla stocks, so Tesla doing well while the vanity project he over-borrowed to complete crashes and burns just means either a painfully slow bleeding dry of Elon, or best case for Elon, Tesla manages to increase in value so much that it completely eclipses the loans for Twitter and he can cut his losses. I suppose there's also the possibility that some insane windfall comes to Twitter and it can gain enough value to not be entirely overburdened by Elon's debt
Elon likely had enough paper wealth to buy Twitter out right. He chose to court outside funding. I am guessing because he won't be on the hook if Twitter goes bankrupt. Still after he sold his Tesla stock his net worth dropped by like 140 billion or something? Such a stupid thing to do, though I am not a money genius and my net worth is negative due to credit card debt
Those debts most likely belong to Twitter, not Elon personally. That's the "high debt load" he's talking about.