Musk and X CEO Linda Yaccarino have recently stated that most of the company's top-spending advertisers from last year have returned.

Most of the world’s biggest advertisers have stopped buying ads on Elon Musk’s X, exclusive new data shows::Musk and X CEO Linda Yaccarino have recently stated that most of the company’s top-spending advertisers from last year have returned.

  • stifle867@programming.devEnglish
    131·
    1 year ago

    As obscenely wealthy as he is, that wealth comes from bis assets not cash in hand. $20B of the $44B paid was cash, some of which was from selling some of his Tesla shares. Further to that, Tesla stock dropped so significantly it caused his net worth to drop by a further $30B.

    • mriguy@lemmy.worldEnglish
      71·
      1 year ago

      So as a result he’s no longer so rich he could do it all again and still have more money than he could possibly spend in hundreds of lifetimes? No? Still super rich? Then it’s not really a meaningful distinction.

      • stifle867@programming.devEnglish
        1·
        1 year ago

        I disagree. It’s impossible to say for sure either way but it’s plausible his personal wealth could be wiped out, could be forced to divest his stakes in his own companies, etc.

        • UnspecificGravityEnglish
          1·
          1 year ago

          Which would still leave him insanely rich, so the answer you are looking for is “no, elon musk is not taking any actual personal risk here at all.”

          • stifle867@programming.devEnglish
            1·
            1 year ago

            I’m not sure how being forced to divest in your own companies to meet debt obligations would leave you insanely rich so we’ll just agree to disagree here.

            • UnspecificGravityEnglish
              11·
              1 year ago

              Because divesting means selling, which means.that you get money in exchange for property. How do you not understand this?

              • stifle867@programming.devEnglish
                1·
                1 year ago

                Because divesting in order to meet debt obligations means that with that money you have to immediately use it to pay debts that you owe to others, therefore you no longer have the money nor the assets. Is it really that hard to understand? If a bank foreclosures on your house it means that your property is sold and the money from the sale goes to the bank to pay off the loan.

    • UnspecificGravityEnglish
      2·
      1 year ago

      Again, none of that impacts him in any way apart from losing the ability to literally just do it again.