Elon Musk's Headroom

Elon Musk bought Twitter back in 2022. The deal closed on the 28th of October that year. I have seen it reported that Musk borrowed part of the money used to buy Twitter, and that he used his shares in Tesla as security for the loan. 

When the $44 billion price for Twitter was struck on April 25, 2022, Tesla's share price was $332.67 and when Musk became owner later that year on the 28th of October, Tesla's share price was $228.51.  Somewhere between those prices the bank will have valued the security underpinning the loan, a low point being $204.99 in mid October. 

Right then, the current Tesla share price is $239.01 and it has been falling steadily all year, with only slight upticks. The lowest point in 2025 thus far was $222.10 on the 10th of March. 

The point I'm making is that Elon Musk appears to be skating on thin ice. If the value of his Tesla stake falls too low, the bank may ask him for further security to back his loan. I wonder what that conversation would sound like?