Yeah I really think the banks backed this deal with the intention of carving up Musk because of the way he financed this. I don’t know enough about the subject to be confident but I wouldn’t be shocked if he loses control of Tesla in the long run because of this
Musk put up $22.4B of his own money to buy Twitter, plus another $4B he already had invested.
Maybe Twitter was worthless when Musk bought it, and that $26.4B was - theoretically - already burnt in the deal. If you pay $26.4B to buy garbage, you lost $26.4B from the start...
Assuming Twitter is not worthless, Musk loses whatever percentage of that $26.4B actually has value. Worst case, that's probably at least 20% - which is still $5.28B.
He'll also still be on the hook for $13B in personal debt financing to banks. Unless Musk himself can claim to be bankrupt, he owes them $13B - and they're going to get it one way or the other.
Further, another $7B of equity investments came from questionable investors like Saudi Prince Alwaleed bin Talal. Who knows what they're going to do if Musk purposefully runs the company into the ground and burns billions of their money...
There's a lot of reasons why Musk can't just say oops, claim bankruptcy and leave everyone else holding the bag.
It's almost as if all the other investors aren't morons...