Money

“Hold My Beer”: Elon Musk’s banks hold onto $13B in Debt

Published

2 years ago

October 22, 2022

Elon Musk’s recent antics have made it difficult for his banks to sell the debt required to finance the Twitter deal.

As a result, they’ve decided to just hold onto it instead. This move threatens to bring leveraged buyouts to a halt, as it ties up capital that could be used to finance other deals.

Elon Musk’s recent antics have made it difficult for his banks to sell the debt required to finance the Twitter deal. As a result, they’ve decided to just hold onto it instead.

According to The Wall Street Journal, this $13 billion move threatens to bring leveraged buyouts to a standstill by tying up capital that could be used to finance other deals.

This is truly a next-level “hold my beer” move, as it puts pressure on other banks to step in and help Musk finance the deal. However, with leveraged buyouts already faltering, it’s unlikely that any other bank will be willing to take on such a risk.

This could ultimately lead to the demise of the leveraged buyout altogether.

Elon Musk’s recent antics have put his banks in a tight spot. In order to finance the Twitter deal, they’ve had to take on $13 billion in debt – which they can’t seem to get rid of. As a result, they’re just going to hold onto it, which threatens to bring leveraged buyouts to a halt.

Elon Musk has once again managed to shake things up.

Leaders

Elon Musk is projected to become the world’s first trillionaire

Published

7 hours ago

September 9, 2024

ticker NEWS

Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

Money

Treasury Secretary believes the U.S. are on track for a “safe landing”

Published

10 hours ago

September 9, 2024

ticker NEWS

Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

Leaders

Trump promises to slap unprecedented tariffs on foreign allies

Published

12 hours ago

September 9, 2024

ticker NEWS

Former President Donald Trump has promised to slap unprecedented Tariffs on foreign allies, including the European Union, if he wins the 2024 presidential election.

Trump pledged to reduce the corporate tax rate from 21% to 15% for companies that make their products in the U.S.

While he had already said he wanted to cut the corporate tax rate to 15%, he had not previously tied that lower rate to keeping manufacturing inside the country. #featured #trending