Ever since Elon Musk closed the deal to buy Twitter, he has claimed that the company, now called X, is in a “very serious situation from a revenue perspective.” Now, wall street journal Reports that banks are preparing a coordinated move Selling some of the $13 billion in debt they loaned Musk to finance the deal. It refers to an email sent to employees this month, which has also been confirmed The VergeWhile Chief Tweet said, “…we've seen the power of Coming.”
One reason for this is Bank of America, Barclays and Morgan Stanley take so much loan is from trying Avoid selling at a loss After economic conditions changed, Musk had to fight a lengthy court battle attempting to get out of the deal. While equity investors have reportedly cut the value of their stake by up to 78 per cent magazine “Banks expect to sell senior debt at 90-95 cents on the dollar while retaining more junior holdings,” the report said.
As Musk noted in his email, the report states that banks are expected to use the story of Musk's links to Donald Trump, as some unnamed investors may be interested in buying based on this belief. That its financial position is improving.
However, Musk also said the company could be cash-flow positive “within a few months” about two years from now, and it still faces more than $1 billion in annual interest payments on debt. The platform is growing rapidly is turning into a testing ground for its AI ambitionsAs we reported earlier this month, and while small hint He said the service would be able to cover “someone's entire financial life” by the end of 2024.