Comment on How do shares work? How does musk control twitter if he only owns 9% of the shares?
mojofrododojo@lemmy.world 1 week agoMost of his purchase for the company was done by using his other stocks as collateral to be able to take out loans from the banks.
gonna get really interesting when the banks start looking for their returns. watch, he’ll get Trump to bail it out.
bjornsno@lemm.ee 1 week ago
That’s not how loans for billionaires work. The bank is very happy to only collect some interest on this huge loan for ever, and would be more than happy to give Elon more loans to buy other things. Because of the fractional reserve banking system the bank isn’t even running any real risk by doing this.
mojofrododojo@lemmy.world 1 week ago
bet you a soda they want their money in the next few years.
bjornsno@lemm.ee 1 week ago
You’re on 🤝
mojofrododojo@lemmy.world 1 week ago
nypost.com/…/wall-street-banks-set-to-sell-billio…
reuters.com/…/wall-street-banks-set-sell-billions…
wsj.com/…/wall-street-banks-prepare-to-sell-billi…
LOLOL