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[email protected] • 25 days ago

Elon Musk may have to sell billions in Tesla stock to rescue X

cross-posted to:
[email protected]

755

Elon Musk may have to sell billions in Tesla stock to rescue X

@[email protected]M to

[email protected] • 25 days ago

cross-posted to:
[email protected]

Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

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25 days ago
He won’t. He bought the company using leverage so he wouldn’t have any personal financial investment in it.

My personal theory is that he bought it to destroy it to lash out at Grimes but, honestly, who the fuck even knows.

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