this post was submitted on 20 Aug 2023
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Enough Musk Spam

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For those that have had enough of the Elon Musk worship online.

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[–] quixotic120@lemmy.world 12 points 1 year ago (1 children)

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.

[–] bloopernova@infosec.pub 5 points 1 year ago (1 children)

Wasn't some of that money lent by saudi princes? A group of people who tend to take revenge against those who wrong them.

[–] girlfreddy@lemmy.ca 4 points 1 year ago

They get their own write-off which will balance the billions in oil profits.