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One year after being bought for $44 billion, X is worth $19 billion (arstechnica.com)

submitted 1 year ago by ijeff@lemdro.id to c/technology@lemmy.world

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[–] UnderpantsWeevil@lemmy.world 3 points 1 year ago (1 children)

But the 44B was payed, so they do/did exist.

It was mostly debt swaps. Elon traded equity in Tesla for equity in Twitter.

[–] Black616Angel@feddit.de 3 points 1 year ago (1 children)

Well akschually probably about 22/23 billion were cash according to reuters.

https://www.reuters.com/markets/us/how-will-elon-musk-pay-twitter-2022-10-07/

[–] UnderpantsWeevil@lemmy.world 1 points 1 year ago* (last edited 1 year ago) (1 children)

According to a Reuters calculation, Musk had about $20 billion cash after selling part of his stake in Tesla through multiple transactions in November and December last year and April and August.

My mistake. I mistakenly thought he'd simply swapped the Tesla stock at face value, rather than cashing it out via a brokerage.

[–] Black616Angel@feddit.de 1 points 1 year ago

No problemo. I usually don't give a shit about this kind of stuff, but if a single person buys for such a huge sum, I maybe look into it.