Some of us are trying to make ends meet. Some of us are worrying about how we can afford retirement. Some of us are looking at medical bills and weeping. But not Elon Musk! He’s the what-me-worry kid. He borrowed billions for an impulsive purchase of Twitter, and he’s not worried at all about his rather desperate situation.
With interest on his loans totaling over $150m/month and a company grossing $5B before screwing it all up and chasing the advertisers out, Twitter’s reluctant purchaser Elon Musk seems to be running out of options.
He’s bleeding $150 million every month on just the interest payments? On a company he is visibly mismanaging? In his shoes (his brightly-colored, oversized clown shoes), I’d be a wreck. I’d be worried about all the employees I was letting down, and how I’d meet operating costs, let alone the interest. But not Elon! He has a plan!
To cut costs, Twitter has not paid rent for its San Francisco headquarters or any of its global offices for weeks, three people close to the company said. Twitter has also refused to pay a $197,725 bill for private charter flights made the week of Mr. Musk’s takeover, according to a copy of a lawsuit filed in New Hampshire District Court and obtained by The New York Times.
Twitter’s leaders have also discussed the consequences of denying severance payments to thousands of people who have been laid off since the takeover, two people familiar with the talks said. And Mr. Musk has threatened employees with lawsuits if they talk to the media and “act in a manner contrary to the company’s interest,” according to an internal email sent last Friday.
The aggressive moves signal that Mr. Musk is still slashing expenditures and is bending or breaking Twitter’s previous agreements to make his mark. His reign has been characterized by chaos, a series of resignations and layoffs, reversals of the platform’s previous suspensions and rules, and capricious decisions that have driven away advertisers.
Whoa, you can do that? I could just refuse to make our mortgage payments or skip out on our credit card bill? That would free up a whole lot of money that I could spend on fun stuff.
I think, though, that at some point the law would catch up with me, and I’d be evicted or forced to meet my contractual obligations or maybe even be arrested and jailed. Could that happen to the second richest man in the world? Probably not, because the world is not just. We’ll have to settle for watching his reputation get flushed away.















