Banks Sell $5.5B of X Loans After Interest Surges [2024:$1.2B EBITDA, $2.7B Rev]
wsj.comFrom article:
X also reported to the investors 2024 adjusted earnings before interest, taxes, depreciation and amortization of about $1.25 billion and annual revenue of $2.7 billion. Investors said that was a better picture than they had expected and that X's finances hit an inflection point a few months before the November election.
In 2021, Twitter reported adjusted Ebitda of about $682 million and about $5 billion in revenue. That was the last full year before Musk took the company private.
"It's almost like I am good with money" twitted Musk sharing a link for an article citing the 97 cents on the dollar sell out.
It's incredible that Twitter is still worse than it was before the sale on almost any metric you can think of, but because he purchased his way into the government the market just bails him out on the chance they might get on his good graces.
It's just like Trump getting all that DB money. If you're rich and powerful enough you can indeed win over the house and take on the banks. I wonder how much is just the banks counting on this being a way to pay for influence and not really loans worth giving.
Musk's Twitter acquisition has made him the second most powerful man in America. He isn't going to give that up over $13bn.