A group of leading American banks completely resold the full debt portfolio that assured Elon Musk to take over the social network Twitter in 2022 (now called X) – reports Wall Street Journal.
"On Monday, according to those acquainted with the situation, the banks realised the last of the debts planned for the acquisition of Twitter by Musk in 2022. $1.2 billion loans were sold at 98 cents a dollar," WSJ reports.
In April 2022, Morgan Stanley, Bank of America, and 5 another banks agreed to finance the acquisition of Twitter by Ilona Musk, expecting to gain millions on fees from later selling debt to investors. By the time the transaction was completed, however, marketplace conditions deteriorated and investors showed no interest in Twitter debt. As a result, the outstanding loans remained in bank balance sheets for more than 2 years.
After Donald Trump was elected and closer relations between the American entrepreneur and the president, Muska's investor interest increased. Thanks to the return of advertisers, including Amazon, Musk was able to rise capital for X, which was later merged with xAI. The full valuation of the full task was $133 billion.
U.S. banks have sold all of Musk's debt to buy Twitter, reports the mediaMay 1, 2025
A group of leading American banks completely resold the full debt portfolio that assured Elon Musk to take over the social network Twitter (now called X) in 2022 – reported Wall
Waltz and deputy suspension in the performance of their duties, reports the mediaMay 1, 2025
U.S. President’s National safety Advisor Michael Waltz and his deputy Alex Wong were suspended in work on Thursday, reports Fox News, citing
Trump claims he renovated the White home interior at his own expense.May 1, 2025
U.S. president Donald Trump said in an interview with Atlantic magazine that he renovated the interior of the White home at his own expense, including decorating it with 24-carat gold. ‘Yes, I do
Daniel Głogowski
Expert in economics and social activities, experienced writer and writer. The first articles were published in 1999 in publications for global publishers. Working with leading planet newsrooms.
Read more:
U.S. banks have sold all of Musk's debt to buy Twitter, reports the media
