If he thinks Twitter is irreperably dying, this may be a way, in which he can get out of repaying the loans he used to (partially) fund the buyout of twitter.
depends how the loans worked.
I was assuming his majority shares of X (ex Twitter) collateral.
And that that he could just go “yeah, go on, collect on your collateral, I don’t mind”, because it’s not worth anything anymore.
But admittedly I have no Idea how the contracts were drawn up, if this is possible and if his other money would be available to collect on.
If you’re thinking this an “artist formerly known as Prince” sort of thing where Prince got out of a contract, I’m sure all the debt holders have the proper legal verbiage to have agreements remain valid in the event of a name change.
Guys, I’m starting to think this Elon guy isn’t as smart as he claims…
An insight that’s coming a couple of years too late though.
It’s a joke.
I should’ve added a smiley face myself, sorry. I thought you were joking.
No worries. I’m genuinely relieved you were joking too!!
Depends.
If he thinks Twitter is irreperably dying, this may be a way, in which he can get out of repaying the loans he used to (partially) fund the buyout of twitter.
How does that get him out of the loans?
depends how the loans worked.
I was assuming his majority shares of X (ex Twitter) collateral.
And that that he could just go “yeah, go on, collect on your collateral, I don’t mind”, because it’s not worth anything anymore.
But admittedly I have no Idea how the contracts were drawn up, if this is possible and if his other money would be available to collect on.
If you’re thinking this an “artist formerly known as Prince” sort of thing where Prince got out of a contract, I’m sure all the debt holders have the proper legal verbiage to have agreements remain valid in the event of a name change.
At some point some creditor should be desperate enough to do a margin call, since the loan collateral is next to worthless.