Elon Musk has to make the first interest payment on the $13 billion debt he took on to buy TwitterThe first interest repayment for Elon Musk's Twitter takeover could be due as early as this month, according to the Financial Times. The first interest payment on the debt could be due as early as this month, according to the Financial Times.
Musk bought Twitter for $44 billion in October, financing the deal with $13 billion of borrowings from banks including Morgan Stanley and Bank of America. If Twitter failed to make that payment, its management could file for bankruptcy to initiate a debt restructuring process. Twitter lost $221 million in 2021, its last year of full reporting. Musk has scrambled to cut costs and boost revenue since buying the company, laying off around 50% of employees and launching a new subscription service called Twitter Blue.
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