|
|
|
|
|
|
by HWR_14
1062 days ago
|
|
|
He wasn't forced to buy Twitter. He was forced to complete the sale he insisted he be allowed to start. But the changes in the market were not entirely against him. It's not that interest rates are high so that he cannot refinance. He had semi-floating rate (floats up to a maximum), so refinancing would never be necessary. It is currently pegged to the highest level. But it is still locked in at a much lower rate than the market rate. And a billion is less of an estimate than a rounding. The amount of the loan, the interest rate, etc. are all public knowledge because he had to file the terms and contracts with the SEC. Meanwhile, I'm not convinced it's "not an insignificant amount of money" is the appropriate phrasing. It's a lot of money to him, but certainly something he can afford. Jeff Bezos famously put that much each quarter (so 4x the rate) into Blue Origin. |
|
|
Still the billion a year is paid out to the banks and not used to run Twitter.
I wonder how much Twitter is making/losing now. Sure they cut a lot of staff but income must be in the toilet with ad revenues down due to advertisers getting cold feet and now rate limits further reducing the number of eyeballs.