I warned Elon Musk wouldn't help his beleaguered banks via refi of billions in losing LBO debt they foolishly fronted him to buy Twitter. He can't even stop setting it and himself on fire every day.
Boomeranged on Tue, 5 Mar 2024 07:34
As I warned in November, Bloomberg reports today Elon Musk refused to rework disastrous loans Banks funded for him buy Twitter which have cost them hundreds of millions in losses. Musk is walking a tightrope by trying to fund Twitter's hemorrhaging cash even as he destroyed its revenue flow by alienating advertisers needed to save it. One missed payment & the banks can take it over—& eject Musk.
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