he said. “We’ll be gone, and it’ll be gone because of an advertiser boycott.”… eeer, no.
but muh 20-d chess
What a fucking clown. Shareholders should be holding him personally liable for tanking the company.
He bought it so he’s the only shareholder. It’s not publicly traded anymore.
He’s not the only shareholder though.
First off, they didn’t pay $44bn, that number includes a $13bn loan that Twitter took out to buy itself on behalf of the new owners. Musk paid ~$27 including fees, $20bn of this was Tesla stock (which since shortly after has been underperforming), then $5bn was other investors, including that Saudi Prince.
Edit: there was also Musk’s existing shares, which iirc was around $2bn, but I think that’s included in the $27bn - so his payment was something like $25bn, made up of $20bn in stock and $5bn in cash. /e
Musk is the majority owner, owning roughly around 26/31 of the value. However he isn’t the only shareholder.
In any case the leveraged buyout has been structured with the intent of killing the business. There was never any sincere hope of paying off the $13bn debt, and the intent was all but proven when they almost immediately stopped paying rent on their offices. This might not have been the goal along, but since Musk was forced to make the purchase that’s what it turned into.
What do you think is the endgame here? Im so lost with regard to this whole storyline
There is no endgame plan. He is a fucking idiot that got rich on accident.
Elon made deals w/ hedge funds to funnel him money as they shorted the stock (not to mention 100x leverage derivatives against Twitter).
Since canceling his PR team, Elon’s entire MO has been to run it into the ground in a manner that seems plausible to the SEC so he doesn’t get out-right sued.
He just isn’t this stupid, whether you want him to be or not.
“Fuck you” to his advertisers seems like a fairly on-brand way to telegraph his true intentions.
Do you have evidence of him committing insider trading?
He’s not the one trading the stock(s) in the above scenario.
So you’re just talking out of your ass?
