@reddig33 to Enough Musk Spam • 1 year agoElon Musk told bankers they wouldn’t lose any money on Twitter purchasearstechnica.comexternal-linkmessage-square31arrow-up1158arrow-down13
arrow-up1155arrow-down1external-linkElon Musk told bankers they wouldn’t lose any money on Twitter purchasearstechnica.com@reddig33 to Enough Musk Spam • 1 year agomessage-square31
minus-square@olostalink8•1 year agoThese 13 billions were not loaned to Musk but to Twitter. So Musk has no obligation to personally honor those loans. The bank bought the story sold by Musk that he could make Twitter so profitable that the company could repay these loans. https://www.aljazeera.com/economy/2022/10/28/how-elon-musk-financed-his-twitter-takeover
minus-squareatoccilinkfedilink13•1 year agoThey loaned Twitter the funds to buy itself? The more I see the bigger this scam seems.
minus-square@olostalink7•1 year agoA perfectly common practice: https://en.m.wikipedia.org/wiki/Leveraged_buyout The buyer is not supposed to kill the value of the company this quickly though.
These 13 billions were not loaned to Musk but to Twitter. So Musk has no obligation to personally honor those loans. The bank bought the story sold by Musk that he could make Twitter so profitable that the company could repay these loans.
https://www.aljazeera.com/economy/2022/10/28/how-elon-musk-financed-his-twitter-takeover
They loaned Twitter the funds to buy itself? The more I see the bigger this scam seems.
A perfectly common practice: https://en.m.wikipedia.org/wiki/Leveraged_buyout
The buyer is not supposed to kill the value of the company this quickly though.
Can they seize Twitter and sell it to someone else?