this post was submitted on 02 Jan 2024
680 points (95.7% liked)
Technology
59438 readers
4370 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
He paid around $20 billion cash (by selling Tesla stock) and loaned another 6.25 billion personally (loan secured by more Tesla stock). The rest was funded by various bank loans that are now owed by Twitter itself.
One of the neat tricks you can do when you're wealthy is loan billions of dollars to buy a company, then you put those loans in the name of the company you just bought, so you don't have any personal risk. The reason he still needed to pony up $26 billion in cash is because banks thought it was too risky to loan the full amount. They might now regret loaning even this much, Twitter has a substantial debt burden and I understand ad revenues aren't doing great.
Obviously, since the company is private now we don't get as much insight into financials.
I wonder why revenues aren't great. /s
I can’t figure out why BlueSky never comes out of invite-only. It would absolutely crush Twitter in this moment when there is so much demand for a direct replacement.