Elon Musk’s Twitter buy: Add bankers to the list of victims

Seven banks lent Musk $13 billion to buy Twitter. Now they’re stuck with the debt. When Elon Musk decided to buy Twitter, he enlisted the help (and financial assistance) of seven major …

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Elon Musk’s Twitter Buy: Add Bankers To The List Of Victims

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Seven banks lent Musk $13 billion to buy Twitter. Now they’re stuck with the debt. When Elon Musk decided to buy Twitter, he enlisted the help (and financial assistance) of seven major …

msn.com

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Elon Musk’s Twitter Buy: Add Bankers To The List Of Victims

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Spread the loveIn the high-stakes drama of Elon Musk’s Twitter acquisition, a new group of players has emerged as unexpected victims: the bankers who financed the deal. This $44 …

thetechedvocate.org

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Elon Musk’s Twitter Buy: Add Bankers To The List Of Victims

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Aug 21, 2024 · In the high-stakes drama of Elon Musk’s Twitter acquisition, a new group of victims has emerged from the shadows: the bankers. As the dust settles on this $44 billion …

thezeitgeist.co

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Banks Still Stuck With $13 Billion In Risky Loans From Musk’s LBO …

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Aug 20, 2024 · The banks could sell the leveraged loans, but only at a big loss. Some have already written them down by hundreds of millions of dollars. By Wolf Richter for WOLF …

wolfstreet.com

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Elon Musk's $44 Billion Twitter Purchase Ranks As Worst Deal For …

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Aug 20, 2024 · Elon Musk's $44 billion purchase of Twitter Inc. has emerged as the worst buyout since the global financial crisis for seven large financial institutions that provided debt for the …

morningstar.com

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Bankers Have Lost So Much Money Thanks To Elon’s Terrible

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Aug 21, 2024 · Seven banks loaned Elon Musk money totaling $13 billion in 2022 to help him buy Twitter, now known by the obnoxiously generic name X, and every single one has been unable …

gizmodo.com

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Elon Musk’s Twitter Takeover Is Now The Worst Buyout For Banks …

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The $13 billion that Elon Musk borrowed to buy Twitter has turned into the worst merger-finance deal for banks since the 2008-09 financial crisis. The seven banks involved in the deal, …

msn.com

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Elon Musk’s Twitter Takeover Is Now The Worst Buyout For Banks …

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[Alexander Saeedy and Dana Mattioli at The Wall Street Journal] "The $13 billion that Elon Musk borrowed to buy Twitter has turned into the worst merger-finance deal for banks since the …

msn.com

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Elon Musk’s Twitter Buyout Backers: Who Are They & How Much …

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May 10, 2022 · Elon Musk revealed in a Securities and Exchange Commission (SEC) filing on May 4 that he has secured $7.14 billion in funding for his $44 billion Twitter acquisition. The …

yahoo.com

FAQs about Elon Musk’s Twitter buy: Add bankers to the list of victims Coupon?

Did Elon Musk buy Twitter?

Loans that Elon Musk used to buy Twitter have become the worst merger-finance deal for banks since the financial crisis of 2008-09, according to a report. Seven banks involved in the deal, including the likes of Bank of America and Morgan Stanley, gave Musk’s holding company about $13 billion to take the social media giant private in 2022. ...

Why did Elon Musk raise $13 billion?

While more than half of the $44 billion price tag came from Elon Musk, some $13 billion had to be raised from a consortium of lenders in order not to overwhelm Tesla shareholders after the entrepreneur liquidated billions of dollars in Tesla stock. ...

Was Elon Musk overpaying for Twitter?

Elon Musk's purchase of Twitter is historic in all the wrong ways. Everyone knew Elon Musk was overpaying for Twitter when he bought the social media platform back in 2022. That’s precisely why the billionaire tried to back out of the deal before being forced to finalize the purchase after a court order. ...

Does Elon Musk have an upper hand negotiating with banks?

Due to X's terrible financial performance, Elon Musk now has an upper hand negotiating with the banks. ...

Why did banks move to finance a Twitter deal?

Banks moved to finance the deal partly because Musk and his backers contributed $30 billion for the Twitter acquisition as a cushion for the debt if the deal soured, the report said. The losses on banks' balance sheets from the deal are also biting into potential bonuses for some bankers, the report said. ...

Is musk's deal a catch-22 for the banks?

The deal presents a Catch-22 for the banks. On one hand, they are eager to be well-positioned to work with Musk and his six companies that range from electric-vehicle maker Tesla to Neuralink and xAI. ...