Elon Musk's $44 billion new toy (a little social media joint ) is reducing right-wingers because, apparently, in terms of "free speech." While the deal will almost certainly go through without a regulatory nag in the United States, the EU is concerned about not making moderating restrictions too loose. And therefore, Tesla's shareholders are also not too excited by the news.
Jack Dorsey's all of this, but NPR reports that no one is entirely sure where Musk will receive that $44 billion, which has drastically affected Tesla's market share this week. Tesla shares fell 2.2 percent, resulting in $125 billion in lost market value (although the stock did early Wednesday). Here's how the NPR statement sums up the:
When Musk announced that he had secured the funds to finance the transaction, he said he would cover $21 billion himself, with banks helping finance the other half.
What remains unclear is how he will generate that money, whether he will sell some of the Tesla shares he owns, borrow against them, bring in additional investors, or all three.
Beyond that wildness (buying something with astronomical ticket value and no idea how to finance it) shareholders seem to worry that Musk will become "distracted" by Twitter (that is fair because already, the dude does tweet a lot), and there's the possibility that his "free speech" crusade will stoke Chinese government feathers and impact operations at Tesla's Shanghai Gigafactory, where workers reportedly had to in response to ongoing Covid lockdowns, which have already h
The sleeping-on-the-floor thing has nothing to do with stock prices, but boy, Musk has made some strange sleep-related headlines lately. Even though the context is completely different, I cant stop thinking about how Grimes recently revealed that Musk declined to. Hmmmm.