This is why using Tesla stock to source cash all the time gets hairy. If Tesla shares fall below a certain level, the banks can call in those personal loans — leaving Musk on the hook. And the quickest way for Tesla’s stock to drop off a cliff is for investors to get wind of a big Musk sale. And of course, he needs to make sure that he still holds on to all the Tesla stock he’s pledged as collateral to the banks. Unfortunately, though, the easiest way for Musk to fill the gaping hole in Twitter’s balance sheet is to sell Tesla shares. You see how this could be a problem.
If you had read the article you would have learned that Musk himself doesn’t own any money, and is even in debt because of its personal expenses, in particular its private jet flights.
Now you can face palm yourself as much as you want, but the only thing you’ll do is putting bigger blinders on your already blinded brain.
I won’t feel sorry about the fate of the most horrible person in the world. As a matter of fact, this is the kind of news that’s bringing me joy, because it doesn’t come from haters like you and me, but from the people that gave him the money in the first place, aka the banks.
I can’t hide my impatience to see him fall quickly, but I guess we’ll get to wait a little more. The end of the year is coming, he won’t be able to pay the $1.3B annual interest fees to the banks and we should begin to see the beginning of the end.
Maybe so, but a person who’s reached that level of notoriety and ability to be so polarizing will never truly go broke. He’ll always have enough media profile to make egregious amounts of money and live in luxury.