Elon Musk would get a billion dollar loan for Twitter!

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Elon Musk would get a billion dollar loan for Twitter!
Elon Musk would get a billion dollar loan for Twitter! © Pool / Team Getty Images News

According to the Wall Street Journal, Elon Musk obtained a loan from SpaceX at the same time as he was negotiating the purchase of the social platform X / Twitter for 44 billion dollars. SpaceX would approve the billion-dollar loan, backed by a portion of Musk's SpaceX shares, and Musk would draw it down in full within a month, the newspaper reported, citing documents.

It wouldn't be the first time that the millionaire has asked his companies for a loan to finance some activities: he previously told the Wall Street Journal that he borrowed $20 million in 2009 to help finance Tesla. According to the latest Wall Street Journal report, Musk also requested three $500 million loans from SpaceX between 2018 and 2020, before repaying them at the end of 2021.

Also according to the Journal report, the board of directors of Tesla would investigate whether Musk was involved in the project and also the amount of time employees had dedicated to Project 42.

Elon Musk would get a billion dollar loan for Twitter!

Reuters said Elon Musk is SpaceX's largest shareholder, with a 42% stake and nearly 79% of voting power as of March, according to the report, which cites a document filed with the Federal Communications Commission. About $13 billion of Musk's $44 billion deal to take over Twitter was also financed by Wall Street banks such as Morgan Stanley and Bank of America.

According to Business Insider, the loans were secured by some of Musk's Tesla shares. That debt is now being repaid by X/Twitter, rather than Musk, with interest payments of about $1.5 billion a year. Not only. Elon Musk would have declared war on the Anti-Defamation League, the Jewish organization that fights against anti-Semitism and extremism online.

According to Musk, in fact, the ADL is trying to shut down his social platform with false accusations of anti-Semitism aimed at the company and the millionaire himself. Musk stated that advertising sales for the former Twitter have decreased by 60% and the long arm of the Anti-Defamation League is behind this decline.

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