Banks Sell $5.5 Billion of Elon Musk's X Debt as Investor Confidence Rises

The sale marks a significant step for Wall Street banks offloading debt tied to Musk's 2022 acquisition of X, as investor interest grows amid financial improvements and political ties.

• Wall Street banks, led by Morgan Stanley, sold $5.5 billion of debt tied to Elon Musk's $44 billion acquisition of X (formerly Twitter) in 2022.
• The debt was sold at 97 cents on the dollar, higher than initial projections of 90-95 cents, offering investors an 11% yield.
• This marks the second attempt to sell the debt after an earlier effort in 2022 failed due to low bids and advertiser losses on the platform.
• Investor interest surged following X's improved financials, including $1.2 billion in adjusted EBITDA in 2024, and Musk's growing influence as a close aide to President Trump.
• Key advertisers like Disney and Apple have returned or are in talks to resume spending on X, signaling renewed confidence in the platform's revenue potential.

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