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ABC News
ABC News
National
Nicholas McElroy, with wires

Elon Musk has taken on eye-watering debt to buy Twitter. It could explain the chaos of the takeover, staff cuts and blue tick fees

It's fair to say Elon Musk has a lot on his plate at the moment.

The world's richest man has taken out $US20 billion (more than $30 billion) in loans to buy Twitter — a relatively unprofitable social media website many have idealised as being a "global town square".

The interest bill for Twitter alone is expected to be about $US1.5 billion per year, according reports by the New York Times, Bloomberg and the Financial Times.

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