this post was submitted on 20 Jun 2024
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Technology
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The problem is that his payout, like the rest of his fortune, is in exceedingly overvalued Tesla stock. So using that to finance Twitter means selling, and every time he sells the price takes a hard dip because Tesla investors know they're standing on a soap bubble and they are extremely nervous about it bursting. Any sudden uptick in sales pressure is liable to cause a small avalanche of investors abandoning ship.
The process of buying Twitter alone cut his net worth by half because of how much it cratered the Tesla stock price.
Hahah, so him personally bailing out Twitter with a cash infusion would kill Tesla in the process?
What a world.