Ukrainian financier and blogger Serhiy Fursa pointed to the financial dealings of American media magnate Elon Musk with the pre-sale of the social network X (formerly Twitter).
Fursa shared his observations on his Facebook page.
The financier says that the further he gets from Musk, the more he resembles Ukrainian oligarch Igor Kolomoisky.
"... and not because he invested to bring the president to power. But because he likes to build pyramids. Create hype, inflate bubbles in which you can hide your financial failures. So he bought Twitter. For $44 billion. And he destroyed the value of this asset. Which began to be valued at less than $10 billion. And as if the owner himself, do whatever you want. But Twitter was bought with loan money. And banks want to see them. And even refinancing against the collateral of the asset will not work, because the asset is worth many times less," Fursa notes.
He also emphasizes artificial intelligence, which is currently experiencing a global boom. Instead, Musk is just hyping it up.
"It seems that you either have to take tens of billions of dollars out of your pocket. Or go bankrupt. It's all very unpleasant. But Musk is a visionary who has a vision of how to hide such things. And now a different story enters the arena. There is a boom in artificial intelligence in the world. Which, of course, inflates bubbles in the stock market. Investors are ready to carry money wherever they say that they have artificial intelligence, or there will be artificial intelligence, or they are even just thinking about thinking about creating artificial intelligence. And what a bubble without Elon Musk. Of course he is here. Of course he is hyping. Of course he has his own company that creates artificial intelligence. And investors are ready to carry their money there. The capitalization is already almost a hundred billion," the blogger claims.
At the same time, he continues: Musk is using AI to pay off his debts.
"And what happens? And this new project of Musk suddenly pulls out $33 billion and buys Twitter from the same Musk. Buys it for about three times the valuation. Probably for exactly the amount needed to repay debts to banks. - "Sleight of hand and no fraud." As Musk's friends would say. As a result, Musk uses the hype around artificial intelligence to pay off his own debts. And the fact that Twitter is now not worth that much is no longer important. After all, money is still flowing like a river towards artificial intelligence projects. And no one is engaged in a pedantic assessment of capitalization. No one asks "dear Elon, haven't you oh... eaten." People love Elon. And Elon likes to breed people on hype. There is always something beautiful and distant, but very attractive. Like that flight to Mars..." , - notes Fursa.
Meanwhile, he asks whether it will lead to a reduction in the budget deficit.
"Who cares about the result, who needs that Mars. But it's beautiful. But it's active. But it's noisy. Like Musk's program to reduce US budget spending. Does it lead to a reduction in the budget deficit? No. After all, the forecast for the end of the year, on the contrary, says that the budget deficit will increase. But Musk. But a chainsaw... Someday it may all collapse. Or maybe not. And so far it works. It works perfectly," the blogger summarizes.
Recall that American billionaire, head of the Department of Government Efficiency (DOGE) and owner of the X platform, Elon Musk, suspected Ukraine of a cyberattack against the platform. However, this thesis of the businessman was refuted.