IBM, a major advertiser on X, has pulled its spending from the social media platform, whose employees are grappling with what to tell its other advertisers, according to internal messages.
To be clear: Musk endorsed a tweet which used a false antisemitic conspiracy theory to tell people why “Hitler was right”
He’s sitting on a big enough pile not to miss it. I wonder how much of this is crazy and how much is political hedging.
I’d be surprised if he could liquidate more than 40bln today, look at Tesla stocks P/E, its a house of paper cards. Spacex is always reportedly on the edge of bankruptcy. Last evaluation I saw of twitter value from its lenders was around 17bln, subtract its debts, that’s about 4bln.
He really has bet the house, it now a question of how long he can keep going on Tesla stock backed loans and if the stock price holds.
Forbes still has him at 241B. I wish he’d run out faster to get his ass out of the news.