Elon Musk may have to sell billions in Tesla stock to rescue X

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Elon Musk may have to sell billions in Tesla stock to rescue X

https://fortune.com/2024/08/15/elon-musk-tesla-stock-sale-twitter-x-advertiser-boycott-finances-bradford-ferguson/

Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.

Elon Musk may have to sell billions in Tesla stock to rescue X

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.