he said. “We’ll be gone, and it’ll be gone because of an advertiser boycott.”... eeer, no.

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[–] 6 points 2 years ago* (3 children)

Pretty sure he's paying a massive amount of interest on those loans, and he would have to liquidate his other assets before he could declare bankruptcy and erase any of the debt... The banks are probably laughing.

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  • [–] 6 points 2 years ago (1 child)

    No that's not how leveraged buyouts are structured. Musk isn't on the hook for the loans, Twitter the company is (basically, Twitter took on debt to help buy its former shareholders out).

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  • [–] 6 points 2 years ago (2 children)

    Precisely, Musk has no personal risk for destroying Twitter. It's absolutely fucking insane how much free money we give rich people.

    Oh, and one of the reasons Twitter will inevitably fail is because of the massive interest payments the company accepted during the purchase.

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