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.
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Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
A senior Russian official is expected to arrive in Washington this week for direct talks with the Trump administration, a source familiar with the plan confirmed.
From Wednesday, European visitors to Britain will need to purchase an Electronic Travel Authorisation (ETA) before arriving, as the UK implements new pre-entry screening measures to tighten border controls.
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Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
A senior Russian official is expected to arrive in Washington this week for direct talks with the Trump administration, a source familiar with the plan confirmed.
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Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
A senior Russian official is expected to arrive in Washington this week for direct talks with the Trump administration, a source familiar with the plan confirmed.
From Wednesday, European visitors to Britain will need to purchase an Electronic Travel Authorisation (ETA) before arriving, as the UK implements new pre-entry screening measures to tighten border controls.
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