Reported 8 days ago
Elon Musk's growing political influence is raising optimism among Wall Street banks, which are eager to unload $13 billion of debt tied to Musk's acquisition of the social media platform X (formerly Twitter). With Musk now closer to Republican President-elect Donald Trump, banks believe that X's prospects may improve, boosting their chances of selling the debt without incurring significant losses. Despite recent fluctuations in user activity and accounting for a decrease in value, banks are contemplating their next steps regarding the debt as financial reports emerge.
Source: YAHOO