A lot of people are like "If I were Elon Musk I would just go to Tahiti and have a Piña Colata," and yes, of course, but the problem is he can't go to a bank and take this out. It's all collateral on collateral. He's the poorest rich man there is. He's overleveraged himself into a permanent hell.
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Space x is up a few billion
Xai is in the tens of billions
Twitter is the only one that’s down
If he sold tesla now he could probably pay all of his debt off and space x would still grow (unlike tesla)
A bit of column B.
A bit of P Diddy...
No mercy. No quarter.
Make Tesla Non-Exist Again.
Doesn’t strike me as something an actual genius would do.
his companies are overvalued but he's got more than enough liquidity to live in unspeakable comfort the rest of his life
Yes, even in ruins it’s enough to live on forever, but its not “buy OpenAI” money
But also, the rest of us are being dragged to hell to help cover his margin call
Trading Places apartheid remake
https://www.forbes.com/sites/johnhyatt/2021/11/11/how-americas-richest-people-larry-ellison-elon-musk-can-access-billions-without-selling-their-stock/
https://www.thedrive.com/tech/29089/tesla-enters-whistleblower-hell
IIRC this is the first story with court filing-documented drug overtones (known-to-police cartel gangsters had worker ID tags at Nevada facility.)
No, let’s go w/ the blue maga conspiracy
People say he’ll be the first trillionaire but I think he’ll lose 50-75% of his net worth by 2030 if not sooner.
Wasn’t supposed to mention the reveling part.
SHOULD BE “…….accessing OUR money.” 🤬
1/
Musk cares a lot about his wealth.
I hope that someone will start a class action lawsuit based on hacking into private information in the Treasury. Ask for punitive damages that will actually be punitive to someone with $400 billion.
If he is overleveraged that will rein him in.
2/2
And then his paper worth disappears instantly
And then his loans are in default
We know most of his properties are leveraged.
to know that our host only yesterday
may have made more money
than your novel ‘Catch-22’
has earned in its entire history?”
"I’ve got something he can never have.”
"What on earth could that be, Joe?”
"The knowledge that I’ve got enough.”
He is a dangerous, sociopathic dude now with some very valuable data.
if the capital can be raised to buy Twitter
it can be raised to buy an island
The credit (which lets be real, is what his "net worth" actually is) is just as real as cash in a world where we've completely abstracted the concept of money.
Ultimately some variation of a vague “things are shitty/getting shittier in my everyday life and it’s because of Trump” vibe needs to permeate through to low info, low engagement voters.
Well; 'hasten the day', and all that...
Billions may be tied up, but I would still like to have his checking account.
But hey, I mean, prove me wrong, banks…
I don't know why @bencollins.bsky.social hasn't started a "Divestment" campaign to drive the South Afrikaan to distraction.
A lot of his cash probably comes from SBLOCs, which means he needs his stocks to keep their value or his lenders can issue collateral calls.