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Wall Street banks plan sale of X debt at a discount
Bankers are reportedly gearing up to offload debt used to fund Elon Musk’s social network, for which he paid $44 million in 2022 including $13 billion in
Bankers are reportedly gearing up to offload debt used to fund Elon Musk’s social network, for which he paid $44 million in 2022 including $13 billion in financing. Though “people familiar with the company” tell the Journal that X’s financials are improving, Musk told staffers in a January email seen by the WSJ that, “Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even.” Meanwhile, a gesture made by Musk at President Trump’s inaugural celebration that many construed as a fascist salute could further complicate the equation for big brands.
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