The billionaire added on the All-In podcast, I strongly advise folks not to have margin debt in a volatile stock market, and you know, from a monetary sense, keep powder dry. In a weak market, you can see some very extreme things happen,
When he paid $44 billion for Twitter Inc. earlier this year and loaded the firm with $13 billion in debt, Musk put up billions of his own funds.
Musk’s lenders are reportedly considering replacing some of the high-interest debt he piled on Twitter with fresh margin loans secured by Tesla Inc. stock that he would be directly responsible for repaying, according to Bloomberg News.
Additionally, he sold nearly $40 billion worth of Tesla shares, which caused the stock to drop to a two-year low. After the most recent sales, Musk once again declared this week that he will halt selling shares, adding that the hiatus might extend for about two years.
During a Thursday audio-only Twitter Spaces group conversation, Musk declared, I’m not selling any stock for 18 to 24 months. Musk later declared that he wouldn’t sell Tesla stock for two years, but later changed his mind and announced that he would just halt sales for at least a year.
My best prediction is that we will experience stormy conditions for a year to a year and a half before daybreak breaks approximately in Q2 2024, explained Musk. Recessions and booms both have their limits,
