Elon Musk issued a warning about borrowing against the value of securities one owns due to the risk of"mass panic" in the stock market.
Musk's bankers are considering replacing some of the high-interest debt he layered on Twitter with new margin loans backed by Tesla stock. Billionaire Elon Musk is warning against something he himself has done — borrowing against the value of securities one owns — because of the risk of"mass panic" in the stock market.
The Tesla CEO put up billions of his own money when he purchased Twitter for $44 billion earlier this year and saddled the company with $13 billion of debt.Bloomberg News has reported that Musk's bankers are considering replacing some of the high-interest debt he layered on Twitter with new margin loans backed by Tesla stock that he'd be personally responsible for re-paying.
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_Business Well you say anything positive about Elon ?
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