Re:Musk announces funding secured for Twitter buy
by bombcar on Thursday April 21, 2022 @12:34PM
(#31111651)
Yeah, the costs to do this are running in the millions, even if nothing ever happens. It was basically a foregone conclusion that Musk can do this, but each bank has to do a bunch of work inside to make sure they're not exposing themselves in ways they don't want to.
[ Parent
| on HN ]
Re:Musk announces funding secured for Twitter buy
by jollybean on Thursday April 21, 2022 @01:13PM
(#31112262)
Not a foregone conclusion. It's complicated. And banks definitely have to do their due diligence.
If it was Buffet then it would be 'almost a foregone conclusion'.
Not with musk.
Musk has gained $10-30M in free publicity thus far. He's made the front pages of the news everywhere in the world.
He can hardly lose here.
And I'm not a Musk fanboy or anything.
Re:Musk announces funding secured for Twitter buy
by bombcar on Thursday April 21, 2022 @01:26PM
(#31112471)
One difference is Buffet rarely if ever buys anything, Berkshire buys things. And I dare say Berkshire has everything ready to go.
In this case Musk is buying using TSLA (and SpaceX?) shares as collateral, not having TSLA buy.
Re:Musk announces funding secured for Twitter buy
by jollybean on Friday April 22, 2022 @12:23AM
(#31118192)
I meant Berkshire.
Tesla nor SpaceX would have no reason to buy Twitter, so Musk has to do it himself.
He has Tesla shares, that's kind of a secondary thing.
It's a leveraged buy out - banks and other firms would be going in with him. A bit like you buy a house.