Yeah at the end of the day Xitter failing is not really going to even be close to making him broke. This is all a write off for him. The only real hit is to his reputation and a bruised ego, but him crying into a pillow stuffed with $100 dollar bills is not much of a consequence.
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My initial thought was that the candles smell like burning silicone but that doesn’t make any sense either.
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Sure, which is why I said relatively cash poor. He definitely has more available cash than I’d earn in over 1000 lifetimes, but it’s low compared to his $280B~ish estimated net worth, even after dividends, interest earned, etc.
Reuters estimates that he secured around $22B or so in outside funds, after selling $20B of Tesla stock, each representing about 8% of his net worth. So he owes some $13B more than Twitter’s estimated value.
He seems to really want a 25% stake in Tesla, I guess thinking it’s a magic number for control. Using business insider’s estimates, that means he needs to buy about $26.3B in shares, or $17B more than the current estimated price of Twitter.
He just doesn’t have the cash to cover his Twitter losses, or to buy the volume of stocks he needs to reach his vaunted 25% ownership stake in Tesla. Not that I’m crying for him or planning to contribute to his gofundme campaign or buy an IncelCamino to help him out or anything.
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That’s worth a lot though. Tesla stocks don’t have their value from building cars that much better than everyone else, they have them because investors believe that any day now they’re going to have all these AI things Musk keeps promising. And as thick as they apparently are, sooner or later even they are going to realize he’s not all he says.
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