Wall Street banks are hopeful they can soon sell off $13 billion of debt tied to Elon Musk's social media platform X. They now believe that Musk's close relationship with President-Elect Donald Trump could improve X's prospects, allowing them to sell the debt without large losses.
Elon Musk’s growing political influence has made some Wall Street banks hopeful they can soon sell off $13 billion of debt tied to his purchase of the social media platform X (formerly Twitter), according to three banking sources.
The debt was used to help Musk buy X for $44 billion in 2022, but banks such as Morgan Stanley and Bank of America have struggled to sell it. They now believe that Musk's close relationship with Republican President-elect Donald Trump could improve X’s prospects, allowing them to sell the debt without large losses.
Banks typically sell loans to investors soon after a deal, but major changes Musk made to X—such as mass layoffs and reduced content moderation—drove away advertisers, cutting revenue and increasing the risk of default.
Recently, however, some banks have noticed more users returning to X during events such as the U.S. elections. Trump, whose account was reinstated by Musk after being banned in 2021, has been active on the platform. The banks hope this increased user activity, along with a strong U.S. economy, might boost revenue.
Analysts also believe Musk's ties to Trump, who appointed him to lead a new department on government efficiency, could benefit Musk’s other ventures, like Tesla and SpaceX. Notably, Tesla’s market value crossed $1 trillion for the first time in two years after the election results. The Trump campaign did not respond to requests for comment.
Canada’s Liberal Party is set to elect a new leader on March 9, moving beyond Justin Trudeau’s decade in power. The race comes as U.S. President Donald Trump’s threats against Canada fuel a wave of patriotism ahead of an expected election.
French President Emmanuel Macron dismissed Russia’s criticism on Thursday, after the Kremlin warned him over nuclear rhetoric. Speaking at an EU summit in Brussels, he accused Moscow of imperialism and said Russia’s strong reaction showed his claims were true.
Torrential rains triggered severe flooding in eastern Spain on Thursday, sweeping away cars and forcing school evacuations. Authorities closed roads in Murcia, Valencia, and Catalonia, with officials urging residents to stay indoors.
Ukrainian President Volodymyr Zelenskyy announced he will visit Saudi Arabia on Monday to meet Crown Prince Mohammed bin Salman, aiming to advance peace efforts. His team will remain in the country for talks with U.S. partners, he said in a Telegram post.
North Korea criticised upcoming U.S.-South Korea military drills on Friday, warning they would worsen tensions on the Korean Peninsula, state media KCNA reported. The annual Freedom Shield exercises are set to begin on Monday and last until March 20.
Canada’s Liberal Party is set to elect a new leader on March 9, moving beyond Justin Trudeau’s decade in power. The race comes as U.S. President Donald Trump’s threats against Canada fuel a wave of patriotism ahead of an expected election.
French President Emmanuel Macron dismissed Russia’s criticism on Thursday, after the Kremlin warned him over nuclear rhetoric. Speaking at an EU summit in Brussels, he accused Moscow of imperialism and said Russia’s strong reaction showed his claims were true.
Torrential rains triggered severe flooding in eastern Spain on Thursday, sweeping away cars and forcing school evacuations. Authorities closed roads in Murcia, Valencia, and Catalonia, with officials urging residents to stay indoors.
Ukrainian President Volodymyr Zelenskyy announced he will visit Saudi Arabia on Monday to meet Crown Prince Mohammed bin Salman, aiming to advance peace efforts. His team will remain in the country for talks with U.S. partners, he said in a Telegram post.
North Korea criticised upcoming U.S.-South Korea military drills on Friday, warning they would worsen tensions on the Korean Peninsula, state media KCNA reported. The annual Freedom Shield exercises are set to begin on Monday and last until March 20.
Norway’s government has affirmed that it will continue to supply fuel for U.S. Navy vessels, dismissing recent calls from a private marine fuel supplier to halt deliveries amid tensions linked to U.S.-Ukrainian relations.
President Donald Trump is preparing a new travel ban that could block entry for people from Afghanistan and Pakistan as early as next week. The move is part of an intensified immigration crackdown.
EU High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, Kaja Kallas, will chair the 20th EU-Central Asia Ministerial meeting hosted this year by Turkmenistan, in Ashgabat, on 4 March.
Watch AnewZ Live Coverage of the Trump-Zelenskyy meeting at the Oval Office at https://anewz.tv/tv-live
Ukrainian President Volodymyr Zelenskyy reaffirmed his respect for the United States and its people in an interview with Fox News, following a tense meeting with U.S. President Donald Trump at the White House.
Canada’s Liberal Party is set to elect a new leader on March 9, moving beyond Justin Trudeau’s decade in power. The race comes as U.S. President Donald Trump’s threats against Canada fuel a wave of patriotism ahead of an expected election.
French President Emmanuel Macron dismissed Russia’s criticism on Thursday, after the Kremlin warned him over nuclear rhetoric. Speaking at an EU summit in Brussels, he accused Moscow of imperialism and said Russia’s strong reaction showed his claims were true.
Ukrainian President Volodymyr Zelenskyy announced he will visit Saudi Arabia on Monday to meet Crown Prince Mohammed bin Salman, aiming to advance peace efforts. His team will remain in the country for talks with U.S. partners, he said in a Telegram post.
North Korea criticised upcoming U.S.-South Korea military drills on Friday, warning they would worsen tensions on the Korean Peninsula, state media KCNA reported. The annual Freedom Shield exercises are set to begin on Monday and last until March 20.
President Donald Trump has postponed 25% tariffs on many imports from Mexico and some from Canada for one month, easing concerns over a broader trade war.
Canada’s Liberal Party is set to elect a new leader on March 9, moving beyond Justin Trudeau’s decade in power. The race comes as U.S. President Donald Trump’s threats against Canada fuel a wave of patriotism ahead of an expected election.
French President Emmanuel Macron dismissed Russia’s criticism on Thursday, after the Kremlin warned him over nuclear rhetoric. Speaking at an EU summit in Brussels, he accused Moscow of imperialism and said Russia’s strong reaction showed his claims were true.
Torrential rains triggered severe flooding in eastern Spain on Thursday, sweeping away cars and forcing school evacuations. Authorities closed roads in Murcia, Valencia, and Catalonia, with officials urging residents to stay indoors.
Ukrainian President Volodymyr Zelenskyy announced he will visit Saudi Arabia on Monday to meet Crown Prince Mohammed bin Salman, aiming to advance peace efforts. His team will remain in the country for talks with U.S. partners, he said in a Telegram post.
North Korea criticised upcoming U.S.-South Korea military drills on Friday, warning they would worsen tensions on the Korean Peninsula, state media KCNA reported. The annual Freedom Shield exercises are set to begin on Monday and last until March 20.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment