Paul J. Davies, Columnist

Is Elon Musk the Bankers’ Moby Dick? Not Yet

His $44 billion buyout of Twitter has been painful for lenders — but it’s not the end of the story.

August 22, 2024 at 4:00 AM UTC

Paul J. Davies is a Bloomberg Opinion columnist covering banking and finance. Previously, he was a reporter for the Wall Street Journal and the Financial Times.

Looking ahead.
Photographer: SAUL LOEB/AFP

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Call me Ishmael. The biggest question about an investment banking client like Elon Musk is whether he turns out to be a Moby Dick.

They’re rare beasts, the giant whales of finance. Multi-billionaires with a plethora of entrepreneurial and investment interests that have the potential to be a gushing spout of repeatable fees aren’t easy to find. So when bankers spot one, they obviously keep pursuing it as long as they can — even if they take a few hits along the way.