Elon Musk sells another $3.9 billion in Tesla shares

0

Twitter has been struggling. Some major advertisers have paused spending on Twitter because of the change in control. A top ad exec, Sarah Personette, quit the day after Musk took over. Musk met with some advertisers himself, and the result was so bad that some execs shifted spending away from Twitter during the meeting, Vox Media’s Kara Swisher reported. Some of Musk’s comments and actions around moderation on Twitter have made advertisers particularly skittish. Twitter isn’t profitable and relies on advertising for the vast majority of its revenue. It will also have to pay roughly $1 billion a year in interest on the debt Musk took out in order to buy it.

One way Musk can make sure his loans are paid, regardless of Twitter’s advertising business, is to pay them himself. William Cohan at Puck has suggested that Musk paying the interest himself is a likely outcome. But to do that, Musk needs cash, and to get cash, he has to sell Tesla shares.

FOLLOW us ON GOOGLE NEWS

 

Read original article here

Denial of responsibility! TechCodex is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More