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Delusional grifter requests that employees and retail investors keep Tesla stock while he and the other elites cash out before the company implodes, leaving common people hung out to dry as usual.
If you own Tesla stock or product, sell it now.
Musk Tells Tesla Employees Han...
@americanfietser.com Surely a genius businessman like Elon wouldn't have borrowed against his Tesla stock at highly inflated prices to fund Twitter, brain implants, robots, and AI?
Right?
But seriously, it wouldn't surprise me if Elon's built himself a financial house of cards around Tesla's highly inflated share price.
If that's the case, it would mean he's borrowed against his Tesla shares to fund both his personal living expenses, and to fund his investments into the likes of Neuralink, xAI/Grok, Starlink, etc., to keep them operating.
If the Tesla share price implodes, then he's underwater. There's no more assets to borrow against to keep funding those other ventures.
That would mean he would be desperately scrambling to find outside investors to keep, say, Twitter, Neuralink or Boring Co afloat, at the exact same time the bottom's falling out of Tesla's share price.
This is pure speculation, of course.
And there may be external forces (President Trump, Russia) willing to bail him out. At least for a time.
But his bid to strip US$56 billion out of Tesla suggests something along the lines of what I've described above: https://www.cnbc.com/2024/12/02/tesla-ceo-elon-musk-loses-bid-to-get-56-billion-pay-package-reinstated.html
And if that's the case, there's a chance things get very bad for Elon very quickly.
@ajsadauskas Right. It's tit for tat. Elon once bailed him out too. With 270 million dollars!!
@ajsadauskas one can only hope
@ajsadauskas @americanfietser.com @ajsadauskas @americanfietser.com Of course he borrowed. That's one of the great tax avoidance strategies, because loans aren't taxed, even if they're secured by assets that would have been taxed if they had been turned directly into cash. And that trick is not only for the super-rich, most 401(k) come with loan opportunities for employees, and other investments can easily be used as collateral for bank loans (been there, done that).