Wall Street banks are gearing up to sell off up to $3 billion in debt tied to Elon Musk’s acquisition of X (formerly Twitter). Morgan Stanley

The Wall Street Journal reports banks are close to selling some of the $13 billion in debt they took on while helping Musk buy Twitter in 2022.

The richest man in the world, Elon Musk, recently sent letters to the employees of X, stressing that investing in the company hardly brings any results, judging by the captions of the American media.

In a recent internal email to employees, Elon Musk, CEO of X, acknowledged the platform's ongoing financial challenges.

Gaming is a big part of the billionaire’s public persona. But other players are questioning whether he has the time or the skill to be as accomplished as he claims.

According to an internal email sent by Elon Musk to employees, X is 'barely breaking even,' citing stagnant user growth and underwhelming revenue

The Wall Street Journal reports that banks are planning to sell part of the $13 billion in debt they gave Musk to buy Twitter.

Elon Musk has admitted to the financial woes of his social media platform X. In an email to employees this month, Musk said that X is barely breaking even amid stagnant user growth and unimpressive revenue.

Elon Musk warns X staff of stagnant user growth and revenue challenges while banks plan to sell $13 billion in X debt.

A group of banks led by Morgan Stanley is preparing to sell as much as US$3bil of senior debt tied to Elon Musk’s buyout of X, the social media platform formerly known as Twitter, according to people with knowledge of the matter.

It comes after the London-focused group hailed bumper festive trading in the city and strong sales from its recently acquired venues.