Buying Twitter was the biggest gamble of Musk's career. Now he — and his empire — are cracking under the pressure.

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.

  • schmorp@slrpnk.netEnglish
    6·
    1 year ago

    Who owns business insider btw?

    Edit: looked it up, it’s Axel Springer SE

    • Saledovil@sh.itjust.works
      2·
      1 year ago

      Axel Springer. Those guys used to publish a good gaming magazine I used to read in my youth. Sadly, that went away.

      • schmorp@slrpnk.netEnglish
        2·
        1 year ago

        Axel Fucking Springer is of German trash newspaper BILD of ‘WE ARE POPE’ title fame.

        There is no large online journalism that I would still read without so many grains of salt that everything tastes like shit. Still hope the muskrat goes down and some of his billionaire bros with him. There will be banks going down, as usual, and then governments will ask us people to pay for all the shit that went down. I hope this time we tell them to pack it.

        • Saledovil@sh.itjust.works
          11·
          1 year ago

          The gaming magazine was good though, but it deteriorated over time. And the publication ceased 2019. I stopped reading well before then.