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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk says Instagram makes people depressed and Twitter makes them 'angry' | Business InsiderMusk asked his Twitter followers which platform was better, tweeting: 'Instagram makes people depressed & Twitter makes people angry. Which is better?' BISouthAfrica This is the bullshit you think is news worthy? Holy hell, your company needs an overhaul! BISouthAfrica Not twitter. You are, Elon BISouthAfrica And this makes news, why?
Source: BISouthAfrica - 🏆 34. / 51 Read more »
Qatar's sovereign wealth fund says it hasn't told Elon Musk to tweet less | Business InsiderThe head of the Qatari sovereign wealth fund – which pumped $375 million into Elon Musk's acquisition of Twitter – told Bloomberg TV they trust his leadership in terms of turning around the company.
Source: BISouthAfrica - 🏆 34. / 51 Read more »
Elon Musk is still a big fan of 'The Battle of Polytopia,' a game where the goal is world domination | Business InsiderElon Musk has even claimed to have beaten the founder of the video game studio behind 'The Battle of Polytopia.'
Source: BISouthAfrica - 🏆 34. / 51 Read more »
Elon Musk says he isn't at Davos because it's boring. Organisers say they haven't invited him since 2015. | Business InsiderElon Musk said last month that he 'was invited to WEF, but declined' but the conference's organizers say he hasn't been invited in nearly a decade. Lol. Billionaires flying in their private jets to Switzerland, pretending to care about climate change and poor people......I would also give that one a miss. BISouthAfrica 🤡 BISouthAfrica I doubt he cares, I know I don't. Why does News24 care so much about this ?
Source: BISouthAfrica - 🏆 34. / 51 Read more »