If he thinks Twitter is irreperably dying, this may be a way, in which he can get out of repaying the loans he used to (partially) fund the buyout of twitter.

[–] agentsquirrel@beehaw.org 15 points 11 months ago

If you're thinking this an "artist formerly known as Prince" sort of thing where Prince got out of a contract, I'm sure all the debt holders have the proper legal verbiage to have agreements remain valid in the event of a name change.

[–] erwan@lemmy.ml 10 points 11 months ago (2 children)

How does that get him out of the loans?

[–] BeigeAgenda@lemmy.ca 18 points 11 months ago (1 children)

The lenders lawyer arrives at the Twitter office:

Lawyer: This is Twitter, is it?

Musk: (with a fake mustache) No, it's X.

[–] Grant_M@lemmy.ca 5 points 11 months ago (1 children)

The bonesaw Saudi lenders :)

[–] BeigeAgenda@lemmy.ca 6 points 11 months ago (1 children)

That makes me think of the theory about Saudi Arabia and probably other countries have had it in for Twitter since Arab Spring.

So this is just Elon doing as instructed: "Make Twitter disappear, but make it look like an accident"

[–] Grant_M@lemmy.ca 3 points 11 months ago

Absolutely

[–] TheYang@lemmy.ml 1 points 11 months ago* (last edited 11 months ago)

depends how the loans worked.
I was assuming his majority shares of X (ex Twitter) collateral.
And that that he could just go "yeah, go on, collect on your collateral, I don't mind", because it's not worth anything anymore.

But admittedly I have no Idea how the contracts were drawn up, if this is possible and if his other money would be available to collect on.

[–] milkjug@beehaw.org 4 points 11 months ago

At some point some creditor should be desperate enough to do a margin call, since the loan collateral is next to worthless.