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Happy anniversary to the banks who saddled themselves with Musk's debt.
https://archive.ph/w4Shz
There's an endearing belief among those who don't understand finance that this is somehow all going according to plan for Musk, who will swoop in and buy up the debt for pennies on the dollar.
What they're ignoring is that Musk doesn't have the readies to do that even if he wanted to (which I've never believed he does).
Look at how his fortune has fared recently. Tesla results and price tumult are killing the gains from Starlink and others.
He's not spending another cent on Twitter.
As I've said so often it makes me tired: This is between Twitter (the company) and the banks. Musk is not liable for it. At all.
@OutOnTheMoors that’s the part so many billionaire stans don’t get: corporate debt is not personal debt. At all.