Re:X glitch wipes out most pictures and links tweeted before...
by epups on Sunday August 20, 2023 @12:59PM
(#37200926)
He paid $44 billion on it. This is a substantial amount of his wealth, close to a fourth of it at that time. The default assumption is that he would try to extract some value from it.
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Re:X glitch wipes out most pictures and links tweeted before...
by runlaszlorun on Sunday August 20, 2023 @02:15PM
(#37201614)
How much of that was raised from other investors? I don’t know myself.
Re:X glitch wipes out most pictures and links tweeted before...
by epups on Sunday August 20, 2023 @02:30PM
(#37201749)
My understanding is that he got capital by using his Tesla stock as collateral - having liquidated all at once would have damaged its value, which happened anyway to a lesser extent. I don't know how this debt is structured now, but I would be very surprised if running the company to the ground would simply eliminate it.
Re:X glitch wipes out most pictures and links tweeted before...
by giantrobot on Sunday August 20, 2023 @02:44PM
(#37201863)
> This is a substantial amount of his wealth, close to a fourth of it at that time
He debt financed the buyout. While he had to put up a non-trivial amount of his own money he also borrowed a non-trivial amount of money. Part of Twitter's problems today is paying an extra billion dollars a year in interest payments on those loans.