107 upvotes, 4 direct replies (showing 4)
View submission: Liverpool owners won’t sell club to ‘interested’ Elon Musk
Have to remember that most his net worth is held up in stocks. Even with the twitter purchase($40 billion) he had to sell some of his tesla stocks and hood wink a bunch of different banks to provide him with a loan.
Comment by [deleted] at 07/01/2025 at 20:57 UTC
141 upvotes, 2 direct replies
for sure but that's the beauty of being mega rich, you don't actually pay your own money for things, you just use your money as collateral for the bank's
Comment by Heliath at 08/01/2025 at 11:53 UTC
2 upvotes, 0 direct replies
Banks love loaning money to rich people, and rich people prefer getting loans rather than selling stocks/ETFs/index funds to pay for something, its way cheaper for them.
Comment by Merochmer at 08/01/2025 at 12:12 UTC
1 upvotes, 0 direct replies
He also had help from the outside to finance the acquisition, among them Russian oligarchs...
Comment by Useful_Blackberry214 at 07/01/2025 at 21:48 UTC
-1 upvotes, 2 direct replies
This is such a dumb thing people keep repeating. Stocks are basically liquid assets. He has infinite money