And he’ll get a huge tax write-off out of it, which likely could have been his intention in the first place.
Whatever.
I don’t know how rich people finance works but wouldn’t the write off net him substantially less than the $40 billion he put it into it.
He only put up about 1/3rd of the capital himself, the rest was financed with loans that were put against the company, not himself. So if twitter fails he loses about 13 billion, a bunch of people who stupidly trusted him lose the rest, and he gets the write off so he can duck 27ish billion of taxes spread across a few years
https://www.npr.org/2022/11/30/1139964806/how-elon-bought-twitter-with-other-peoples-money
He may be a moron in many ways but he didn’t get to 200ish billion by not knowing how to fuck people over and keep his money right; he absolutely knows how to come out ahead on this. It’s almost certainly why he’s so cocky despite running the company into the ground. Either the company succeeds and he then has a media empire that generates him healthy profit or it fails and he still comes out ahead. Either way he wins.
Wasn’t some of that money lent by saudi princes? A group of people who tend to take revenge against those who wrong them.
They just write it off 😃
And how would the company be doing if he hadn’t bought it?
A rare moment of self reflection.
Oh no. This is terrible. Granted X was a safe place for assholes, haters, nazis and those who obviously have had violent and repeated harsh brain trauma that shouldn’t have ever happened, but so much laughter comes from the bullshit Cusk has pulled I don’t know if the internet will ever recover.
Everything this dude does turns to memes of failure.
That was always the plan: take out social media so people can’t organize against the oligarchy. See also: reddit ipo
