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Originally Posted by GioforPM
Which ones? Not Edco. Or CNRL. Murray is an investment banker. He doesn’t borrow money. He lends money, or invests via convertible debentures. He advances DIP loans to distressed corps on occasion.
I’m well aware that you can make money if you earn enough to make your interest payments. But I’m an insolvency lawyer. I see the flip side. Borrowing money made Musk poorer. It made Trump poorer.
But anyway, we are talking about team owners. The Flames owners can’t borrow against their ownership of the team for a number of reasons. Not the least of which is no lender would take that collateral.
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CNRL had, as of their most recent financial statements filed with the regulators dated September 30th, over eleven billion in debt. $11,644,000,000
That's a totally reasonable amount for the size of their business, but he definitely uses debt. CNRL buying assets with debt financing is a big part of why he's a billionaire.
https://www.investorx.ca/Doc/37M12Z4...report-english