A cocky, publicity-seeking libertarian billionaire bets virtually all of his stock in his overvalued electric car company to finance a highly leveraged, $44 billion hostile takeover of an overvalued, money-losing social media platform, on which he boasts 84 million followers.
Democracy Dies in Darkness
The flawed math behind Elon Musk’s Twitter deal
An overleveraged billionaire’s bid for an overvalued company may signal the last gasp in an age of magical thinking about markets
Perspective by Steven Pearlstein
May 2, 2022 at 9:04 a.m. EDT