this post was submitted on 15 Dec 2023
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Enough Musk Spam

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For those that have had enough of the Elon Musk worship online.

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[–] olosta 8 points 11 months ago (2 children)

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

[–] [email protected] 13 points 11 months ago (1 children)

They loaned Twitter the funds to buy itself? The more I see the bigger this scam seems.

[–] olosta 7 points 11 months ago

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.

[–] reddig33 5 points 11 months ago

Can they seize Twitter and sell it to someone else?