• Why Elon Musk Gets to Waste $13 Billion in Loans and You Don’t, with Charles Khan

  • Nov 2 2023
  • Length: 32 mins
  • Podcast

Why Elon Musk Gets to Waste $13 Billion in Loans and You Don’t, with Charles Khan

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  • Summary

  • The "world's richest man," Elon Musk, purchased Twitter (since renamed X) for $44 billion in 2022. It's estimated he holds $13 billion of that amount as debt from bank and other loans, a sum the average working class person would obviously face severe repercussions for. He didn't have the liquid cash for the purchase and the company only generated $4 billion in revenue in 2022, but he was given loans to make the purchase anyway. The site's always been a long way from seeing a profit, and is in a worse position since Musk's takeover. There's no sign of it earning the revenue necessary to pay off the debts he has incurred. So what's the deal? Why is there a separate set of rules for the rich when it comes to debt? And how do we fight to make these rules more equitable and hold wealthy mega-debtors accountable? In this episode, Maurice talks with Charles Khan, an organizer with Hedge Clippers, a national campaign focused on unmasking the dark money schemes and strategies the billionai
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