birdsite, finance
So by what mechanism did Musk borrow a ton of money, use it to buy Twitter, and then *transfer his debt to Twitter*?
This seems like a thing that shouldn't work.
Presumably I'm just naive.
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birdsite, finance
He brought the company private, but he still owns shares in the company, so if it goes belly up, he'll still lose whatever the company owes him, plus the value of his shares.
But as creditor, he would be better off in a bankruptcy than just a shareholder.
birdsite, finance
@Pat Ah, so the debt that he transferred to Twitter is really still his debt. That kind of makes sense!!