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Comment by silisili | Hacker News Reader

He didn't leverage Tesla stock to buy X.

These Reddit level takes with zero research are making threads like this really annoying to read. All emotions, zero facts.

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Speaking of threads with zero facts, can you cite your research? Here’s mine showing $12.5B secured by TSLA shares:

https://www.sec.gov/Archives/edgar/data/0001418091/000110465...

That wasn’t the only funding, of course, but it’s a big chunk:

https://web.archive.org/web/20220422035052/https://www.bloom...

https://www.nytimes.com/2022/04/25/technology/musk-twitter-s...

Again, you're just citing three things from the same date, and I don't believe it's in good faith.

Elsewhere I suggested people to just Google it, because it gives you an honest answer. So does chatGPT. So does the Wiki page on the deal, with sources.

Here is one said source -

https://www.theverge.com/2022/5/25/23141940/elon-musk-tesla-...

Thanks for the source. Google might have given you the later update because you’d already searched for it, but that was not true for me.

How did he get the tens of billions in cash he personally put in if not leveraging Tesla. Yes he had minority investors and put some debt on the acquisition itself, but he put up a lot of money.

He sold Tesla shares.

This is all public, I don't understand the weird speculation...

He also sold a ton of shares. But not enough to cover all the money he needed to put into Twitter.

He had to sell some Tesla shares because he reached the max borrowing limit against his Tesla shares that was allowed. Once he was forced to sell shares he had to pay a lot in taxes. This shows the mega wealthy can pay taxes and not become poor. We should learn from this lesson and tax the .01% of society.

He hit his max borrowing limit? Can we just discuss the facts rather than making stuff up to talk about our favorite narratives?

Yeah, let's continue talking about how no one person in the entire human race should have more than $50 million dollars.

I agree with the other poster.

And who are you to decide that?

In the French revolution it was decided by the ones with Guillotines :)

Lets see how Google ai in search handles it.

AI Overview

Elon Musk is limited to borrowing against pledged Tesla shares, with the total loan amount capped at the lesser of $3.5 billion or 25% of the value of the pledged shares. Musk's current holdings of about 411 million shares and 238.4 million pledged shares as of April 6, 2023.

Here's a breakdown:

25% Loan-to-Value Limit: Tesla's policy caps the loan amount Musk can take out based on a percentage of the value of his pledged Tesla shares.

$3.5 Billion Dollar Cap: Musk's borrowing is also limited to a total of $3.5 billion.

Pledged Shares: Musk currently has 238.4 million shares pledged as collateral for his loans.

Overall:

Musk is borrowing against a portion of his Tesla stock holding, subject to the limits set by the company policy.

For more info:

https://www.bloomberg.com/news/articles/2023-04-06/tesla-alt...

You haven’t added any facts either, it’s just one more statement from a random Interneter like those Reddit posts. I’m intrigued to hear some fact on this point though?

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