Technology

59427 readers

2839 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1005

One year after being bought for $44 billion, X is worth $19 billion (arstechnica.com)

submitted 1 year ago by ijeff@lemdro.id to c/technology@lemmy.world

166 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] UnderpantsWeevil@lemmy.world 2 points 1 year ago (3 children)

But the 44B was payed, so they do/did exist.

It was mostly debt swaps. Elon traded equity in Tesla for equity in Twitter.

[–] Black616Angel@feddit.de 3 points 1 year ago (2 children)

Well akschually probably about 22/23 billion were cash according to reuters.

https://www.reuters.com/markets/us/how-will-elon-musk-pay-twitter-2022-10-07/

[–] UnderpantsWeevil@lemmy.world 1 points 1 year ago* (last edited 1 year ago) (1 children)

According to a Reuters calculation, Musk had about $20 billion cash after selling part of his stake in Tesla through multiple transactions in November and December last year and April and August.

My mistake. I mistakenly thought he'd simply swapped the Tesla stock at face value, rather than cashing it out via a brokerage.

[–] Black616Angel@feddit.de 1 points 1 year ago

No problemo. I usually don't give a shit about this kind of stuff, but if a single person buys for such a huge sum, I maybe look into it.