Re:ElonJet Is Now Suspended
by Nifty3929 on Wednesday December 14, 2022 @10:49AM
(#33985158)
Musk's grand plan is to lose $30B or so of his own money, plus $13B from bankers who trusted that he would pay them back? That does not seem plausible to me.
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Re:ElonJet Is Now Suspended
by dragontamer on Wednesday December 14, 2022 @10:56AM
(#33985310)
The $13 billion is now only worth $7 billion btw.
The bond market has shifted. Twitter still owes $13 Billion of course, but those bonds are toxic. No one wants junk-bonds from Twitter right now.
Re:ElonJet Is Now Suspended
by fallingfrog on Wednesday December 14, 2022 @10:58AM
(#33985333)
Well, I would say that he didn't lose it so much as he spent it to destroy Twitter out of spite. In which case he must be getting value for his money, he certainly seems to be enjoying himself.
Re:ElonJet Is Now Suspended
by mywittyname on Wednesday December 14, 2022 @02:16PM
(#33988575)
And yet, Twitter was insolvent the day the deal went through. The company is going to be "restructuring" it's debt by June '23. Whether that's in bankruptcy court or through private deals with bond holders.