Elon Musk just pissed away $30B on his & his investors' purchase of Twitter

[Dolemite censored]

Financial sources are reporting that Twitter is only worth about a third of the $44B Musk and his investors paid for it.

I always thought this was a vanity purchase that he should never have done, and he carelessly locked himself into a deal to buy Twitter at an inflated price.

Meanwhile, Elon's Twitter and SpaceX shareholders are pissed that Musk spread himself too thin and is ignoring Tesla - which has ongoing recalls - and SpaceX businesses.

https://www.axios.com/2023/05/31/twitter-worth-third-elon-musk-purchase-price-fidelity

 

[Dolemite censored]

As in, 30,000 Million$$.

 

[fordman84]

So? Do you own Twitter stock? Have you sold it since you bought it at the higher price? Doubtful most have. It's paper losses, no big deal at all. Twitter will bounce back, probably stronger than it was. It was all a fake valuation before anyways because of the number of bots on it. The way Musk is doing things he will drive all of that off and actually show a return for advertisers, something Twitter wasn't able to do before.

 

[Dolemite censored]

So? Do you own Twitter stock? Have you sold it since you bought it at the higher price? Doubtful most have. It's paper losses, no big deal at all. Twitter will bounce back, probably stronger than it was. It was all a fake valuation before anyways because of the number of bots on it. The way Musk is doing things he will drive all of that off and actually show a return for advertisers, something Twitter wasn't able to do before.

Twitter was delisted and is now a private company. There’s no readily available market the Musk investor group can anticipate in the near future to recover the value of their initial investment.

A paper loss, yes, but also an unlikely paper gain is on the horizon.

I was also surprised by Musk’s whimsical approach to buying Twitter in the first place.

 

[Deep Dish Pizza Goat]

 

[steelerssb]

If Elon's so smart why did he pay $44 billion when I got it for free in the app store.

 

[Handicappers]

If Elon's so smart why did he pay $44 billion when I got it for free in the app store.

He makes all his monies off of @Mental Sickness searching for child r*pe and trannie dongs on twitter.

 

[Schmoopy1000]

 

[rsw626]

https://www.cnn.com/2023/05/31/business/elon-musk-worlds-richest-man-intl-hnk/index.html

Just sayin'

 

[fordman84]

Twitter was delisted and is now a private company. There’s no readily available market the Musk investor group can anticipate in the near future to recover the value of their initial investment.

A paper loss, yes, but also an unlikely paper gain is on the horizon.

I was also surprised by Musk’s whimsical approach to buying Twitter in the first place.

That's right. So no one even lost money, this is just smoke and mirrors bullshit. Musk is still super rich, he can get attention any time he wants it, he has access to the fastest and most followed news source on the planet...so doubt there has been $30B in losses.

 

[SU Nittany Tide]

I bought some TSLA about six months ago. It's up 29% for me.

 

[Dolemite censored]

So no one even lost money, this is just smoke and mirrors bullshit.

Looks as if $13 Billion was borrowed from banks (I bet at variable interest). Some $7 Billion by an investors' group, and the remaining $24 Billion was put up personally by Musk.

Elon Musk convinced 19 luminary investors to help him buy Twitter. Here’s what their stakes are worth now

Filings from Fidelity estimate that the company is worth one third what investors paid for their stakes.

finance.yahoo.com

 

[Dolemite censored]

Let's assume the $13Billion loan is at 4.5% for 10 years.

The payments will be brutal.

Loan Details
	Loan amount	$13,000,000,000.00
	Annual interest rate	4.50%
	Loan period in years	10
	Start date of loan	6/2/2023
Loan Summary
	Monthly payment	$134,729,931.38
	Number of payments	120
	Total interest	$3,167,591,766.09
	Total cost of loan	$16,167,591,766.09

 

[fordman84]

Let's assume the $13Billion loan is at 4.5% for 10 years.

The payments will be brutal.

Loan Details
	Loan amount	$13,000,000,000.00
	Annual interest rate	4.50%
	Loan period in years	10
	Start date of loan	6/2/2023
Loan Summary
	Monthly payment	$134,729,931.38
	Number of payments	120
	Total interest	$3,167,591,766.09
	Total cost of loan	$16,167,591,766.09

When you are borrowing those sums of money, you aren't paying interest like that.

 

[Dolemite censored]

When you are borrowing those sums of money, you aren't paying interest like that.

Wait, are you saying the lenders are not getting regular monthly payments?

How do you think they are being repaid?

 

[steelerssb]

I bought some TSLA about six months ago. It's up 29% for me.

 

[SlinkyRedfoot]

Let's assume the $13Billion loan is at 4.5% for 10 years.

The payments will be brutal.

Loan Details
	Loan amount	$13,000,000,000.00
	Annual interest rate	4.50%
	Loan period in years	10
	Start date of loan	6/2/2023
Loan Summary
	Monthly payment	$134,729,931.38
	Number of payments	120
	Total interest	$3,167,591,766.09
	Total cost of loan	$16,167,591,766.09

HOLY SHIT!

Someone get Elon on the horn, STAT! Clearly, he needs the financial acumen of our resident Chinese food delivery boy on his team!

Fuckin' hysterical.

 

[SlinkyRedfoot]

When you are borrowing those sums of money, you aren't paying interest like that.

Oh, what are you talking about, Ford?! I'm sure Elon just went on LendingTree.com for his loan, just like everyone else. . .

lolz at Dole using the google machine to 'calculate my loan payments' for this.

 

[Dolemite censored]

HOLY SHIT!

Someone get Elon on the horn, STAT! Clearly, he needs the financial acumen of our resident Chinese food delivery boy on his team!

Fuckin' hysterical.

Shut up, bitch.

 

[dikowt dowg]

If Elon's so smart why did he pay $44 billion when I got it for free in the app store.

He gets to be Chief Twit though.