Looming Twitter interest payment leaves Musk with unpalatable options
How the billionaire deals with the acquisition debt load is a crucial test of his leadership of Twitter, which has so far been marked by chaotic management that has alienated its corporate advertisers.
San Francisco/New York | The bill for Elon Musk’s purchase of Twitter is coming due, with the billionaire facing unpalatable options on the company’s enormous debt pile, ranging from bankruptcy proceedings to another costly sale of Tesla shares.
Three people close to the entrepreneur’s buyout of Twitter said the first instalment of interest payments related to $US13 billion($18.6 billion) of debt he used to fund the takeover could be due as soon as the end of this month. That debt means the company must pay about $US1.5 billion in annual interest payments.
