Reported 2 days ago
Wall Street banks have finally disposed of the debt associated with Elon Musk's 2022 acquisition of the social media platform X, previously known as Twitter. After holding approximately $13 billion in loans, banks sold the remaining $1.2 billion to investors for roughly $0.98 on the dollar, following a decline in the loans' value. The successful sale was aided by Musk's recent merger of his AI company, xAI, with X Corp, with a combined valuation of $80 billion.
Source: YAHOO