Elon Musk may have to sell billions in Tesla stock to rescue X

News@lemmy.world – 741 points – 1 months ago

Elon Musk may have to sell billions in Tesla stock to rescue X

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

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Maybe the Saudis and Qataris will chip in some more cash to help him out.

Is there any basis to that conspiracy theory besides some grudge about the arab spring against twitter and its agitators?

The Saudis are the second biggest shareholder of twitter, they bankrolled twitter's acquisition by Musk, and even before that they had literal spies inside twitter.

What conspiracy theory? The Saudis and Qataris have stakes in Twitter.

Qatar Holding, a sovereign wealth fund, is contributing $375m, while Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also confirmed he would retain his $1.9bn stake in Twitter, writing that Mr Musk would be an "excellent leader" for the site.

https://www.bbc.com/news/business-61337622