$44 billion. That's how much Elon Musk acquired Twitter for in October 2022.
$1 billion. That's how much Musk borrowed from the rocket manufacturer he founded,eroticism in greek SpaceX, around that same time, according to a new reportfrom the Wall Street Journal.
The report could not definitively connect the $1 billion loan taken out by Musk from one of his privately held companies to his Twitter purchase, but it does seem likely that the two events correlate. The Tesla CEO and SpaceX founder is worth around $200 billion, but he certainly does not have that cash on hand — it's tied up in assets, primarily Tesla stock. While Musk originally tried to back out of the deal to buy Twitter, he ended up following through with the help of a number of investors.
According to the Wall Street Journal report, Musk quickly paid SpaceX back the $1 billion loan, with interest, the following month. The report also points out that Musk sold around $4 billion in Tesla stock the following month.
As Fortuneexplains, the "unorthodox" move from Musk was likely an attempt to cause minimal impact to Tesla's stock. Short sellers, for example, were anticipating that Musk could sell off a chunk of his stock in the electric car company in order to help fund his Twitter acquisition. In addition, Tesla stock was facing a steep decline during this time period, which complicated Musk's ability to sell off a large chunk of his shares.
Readers will likely question whether Musk was allowed to borrow such a sum of money from SpaceX. And the answer is, yes. SpaceX is a private company and Musk controls a "42 percent stake and almost 79 percent of its voting power," the report says, according to a SpaceX filing with the Federal Communications Commission.
However, the $1 billion loan from SpaceX came at a time when the company was heavily investing in its Starship program and Starlink satellites. Just one year earlier, Musk had even warned that SpaceX could potentially face bankruptcy due to its spending. With SpaceX involved in government-funded projects, and working with agencies like NASA, the loan could have potentially caused ramifications much broader than just SpaceX the company.
The SpaceX loan is now paid back. However, Twitter, which Musk has rebranded as X, now faces the challenge of making back what Musk spent on it. According to Musk himself, the company's advertising revenue is down 60 percentfrom what it was when he acquired the social media platform.
Topics Social Media SpaceX X/Twitter Elon Musk
Best Apple iPad Mini deal: Save $100 at Best Buy
China’s CATL and French shipping firm CMA CGM to set up joint venture · TechNode
Facebook's new plan to woo Gen Z users back to the platform
Save on HP printers for a limited time at Amazon
Best air purifier deal: Save $300 on the Dyson HEPA Big + Quiet air purifier
China’s Chery launches answer to Tesla’s Model Y, Audi Q5L · TechNode
OpenAI, Google DeepMind insiders have serious warnings about AI
TSMC’s A16 process to run without ASML's next
Trump praises storm response as historic disaster unfolds in Houston
'The Acolyte' review: Just what Star Wars needs
Google 'Ask for me:' AI that calls businesses on your behalf for pricing and availability
Tencent profit grows 54% y
Netherlands vs. Nepal 2024 livestream: Watch T20 World Cup for free
Honor X50 smartphone sales surpass 10 million in Chinese market in 10 months · TechNode
GPU Availability and Pricing Update: April 2022
Apple made a mistake with the M2 iPad Air specs — but here’s why you shouldn’t worry
Scientists declared these animals extinct in 2021
Save 20% on Apple AirTags at Amazon
Best free ChatGPT courses
Huawei launches Nova 12 Ultra Star Edition equipped with Kirin 9010L processor · TechNode
What Brings People Together? A Rat in the SupermarketIn “Brodsky / Baryshnikov,” the Resurrection of a Dead PoetBookTok is reviving print book sales and bringing readers togetherJeff Dolven’s “Haystack” Gets a Linguistic AnalysisTyler, the Creator accepts his Grammy on Instagram LiveBest Amazon Fire Max 11 deal: Save $80 on the Fire Max 11 tablet at Amazon“True Story”: Some Advice for the Raconteurs of the WorldThe Sour Shopkeeper“Sonnet,” an Unpublished Poem by Delmore SchwartzEarly Prime Day 2023: Best Amazon device deals including Kindle Scribe, Echo Dot, and moreNicolas Cage's Reddit AMA was a nostalgic, honest delightWordle today: The answer and hints for October 8Dog park etiquette and best practicesMassive Pissed Love: An Interview with Richard HellUp to 69% off Echo smart speakers ahead of Prime DayLocal affirmations accounts on Instagram help Gen Z feel less aloneI Love You: How SmartReply Attempts to Mimic the Way We TalkTyler, the Creator accepts his Grammy on Instagram LiveThe Radical Czech Book Designs of the Twentieth CenturyThe Optimist’s Creed (Or, Donut Philosophy) Going Beyond the Law Inbox Warriors No Days Off Revolt of the Super-Employees The Fifth Shot The Involuntary Misandrist Same as the Old Boss Never Gonna Give You Up Tricks of the Trade For God or the Moroccan Boy? Closing Time Crucifixes of Beit Sahour Our Man in Hollywood Volutions Nothin’ but the Rent Robert Moses is Dead Romania Mexicalli Steering the Fed Mixed Signals Lien on Me
3.4968s , 8262.5078125 kb
Copyright © 2025 Powered by 【eroticism in greek】,Steady Information Network