r/Anticonsumption • u/Healthy_Block3036 • 5d ago

Corporations Elon Musk Loses a Billion Dollars Every Time the Tesla Stock Drops by $2.43

https://www.ibtimes.co.uk/elon-musk-loses-billion-dollars-every-time-tesla-stock-drops-243-1732298
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u/Lashay_Sombra 4d ago

 he’s so over leveraged on Twitter, and he used Tesla stock to buy it

He took no loans on tesla stock to buy twitter and the loans that were taken ($13b) were put on twitter not Musk

Really wish people would stop repeating that misinfo

https://www.aljazeera.com/economy/2022/10/28/how-elon-musk-financed-his-twitter-takeover

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u/ImYourHumbleNarrator 4d ago

literally the first line in the article you posted:

Billionaire used personal assets, investment funds and bank loans to seal purchase of social media giant.

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u/Lashay_Sombra 4d ago edited 4d ago

Learn to read past first line to understand what they actually mean, not what fits your preconceived beliefs 

A large part of that, around $12.5bn, was set to have come from loans backed by his shares in the electric car company – meaning he would not have had to sell those shares.

Ultimately, Musk abandoned the loan idea and put up more funding in cash. The 51-year-old ended up selling around $15.5bn worth of Tesla shares in two waves, in April and in August.

Thats was why he became "biggest tax payer" that year...and that year only