#8 | Posted by prius04 at 2022-11-05 02:33 PM
And the Saudi's are helping him out for a similar reason. Democrats might push more green energy and hasten the collapse of oil.
Musk has long been and even more recently has shown himself to be a major league d-bag. Twitter has mostly been a sewer for enterprises and celebrities' witticisms and self-promotion, and will stink even more "under" Musk. That said, just to lay down some facts:
Saudi Prince Alwaleed bin Talal (one of several hundred Saudi princes, definitely not a fan of current de facto ruler Prince MBS) and his Kingdom Holdings investment arm have long been investing in the US companies, including technology and have been "less than 10%" TWTR investors since before its IPO in 2013. He rolled over Kingdom's 4.4% of shares, Jack Dorsey and Qatar Investment Authority rolled over 2.4% and 0.9% respectively. Alwaleed / Kingdom has been diversifying for decades and has little, if anything invested in oil industry.
Saudi Aramco, now listed and 1.5% "publicly" owned on Saudi Tadawul exchange - still 98.5% owned by Saudi government accounts for about 10% of world's oil output but is one of the leaders in investments in "green" energy, particularly in Japan, more so than Chevron, BP, Shell and Exxon Mobil which also have invested in "green" / "blue" energy projects.
And this doesn't even take into account all the unknown billionaires who are also helping Musk out.
We pretty much know the list of major investors and debtors of X Holdings (Musk's Twitter acquisition company) because Musk had to provide it to the court to assure of sufficient financing. Larry Ellison of Oracle is on the hook for $1B, and several "smaller" billionaires are also on the list.
When spread over a few years, any billions lost on Twitter will be made up for in tax savings by all the players involved in this.
As it should be - that's the nature of "investmrnt risk" in capital formation and free market societies.