Tesla CEO and Twitter owner Elon Musk’s immense wealth and borrowing power are being tested as Tesla shares continue a rapid decline while he attempts to stabilize his $44 billion investment in Twitter.
that Elon Musk is facing financial pressure as Tesla stocks continue a downward trajectory and his $44 billion investment in Twitter has yet to pay off. Theor borrowing against them is being complicated by their rapid loss in value in recent months.
Tesla CEO Elon Musk unveils the new Tesla factory in Fremont, Calif., Wednesday, Oct. 27, 2010. The new Tesla factory is the former NUMMI plant. notes that Musk has largely been a cash-poor billionaire for most of his career, depending upon margin loans — borrowing backed by his Tesla shares — for personal expenses and business investments while retaining his shares.
Mr. Musk’s current Tesla holdings, not including exercisable options, total 424 million shares worth about $52 billion at Friday’s closing price of $123.15 a share. Simply put, if he could tap all of those shares as collateral under Tesla’s rules, he’d be allowed to borrow about $13 billion. That’s only a bit more than he planned to borrow in April as part of the original Twitter deal using just 40% of his shares as collateral, underscoring how his borrowing power has shrunken with the collapse of the car company’s share price. He later scrapped those proposed margin loans to fund the deal amid investor concerns over the risk.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Elon Musk tells investors he'll pause on Tesla stock salesElon Musk said he won't sell any more shares in Tesla for 18 months or more, likely an attempt to comfort shareholders who have watched the stock lose nearly half of its value since Musk's purchase of Twitter.
Les mer »
Elon Musk has lost $132 billion in 2022 after Tesla stock's 68% crashElon Musk has lost $132 billion in 2022 after Tesla's 68% crash - but that still makes him the world's 2nd richest person
Les mer »
Twitter restores suicide prevention feature after Elon Musk reportedly ordered its removalTwitter has restored its suicide prevention feature after it was reportedly removed under orders from new owner Elon Musk.
Les mer »
Tweeting again: Teenager restored to Twitter after ban for tracking Elon Musk flightsA teenager banned from Twitter because he tracked Elon Musk's flights has been restored to the site because he is now delaying the details by a day.
Les mer »
The Woman Who Plans to Make Elon Musk Pay for His Twitter SinsMeet Shannon Liss-Riordan, also known as 'Sledgehammer Shannon. She has sued companies from Uber to DoorDash and won judgments of up to $100 million on behalf of their workers. She plans to do the same for the employees of Elon Musk's Twitter.
Les mer »
New Law Bans Elon Musk's Tesla From Advertising as 'Full Self-Driving'The California law, SB No. 1398, forbids car dealers and manufacturers from using language that could lead the public to believe a car is fully autonomous.
Les mer »