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I really doubt that somebody will margin call one of the most powerful men in the world who is in control of the president of the United States.
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That hinges entirely on whomever holds the loan.
If it was one person, then no way. But it’s not just 1 person, it’s more than 100.
https://www.msn.com/en-us/money/companies/these-are-the-investors-who-helped-elon-musk-acquire-twitter-in-2022/ar-AA1pguJS
There are investment groups in that list, and ties to the Saudis and Russians.
The investment groups might be legally required to margin call if the stock price falls too far, but none of them will hold the full loan.