Morgan Stanley was stuck with billions of dollars of unloved debt tied to Elon Musk’s controversial 2022 buyout of social-media platform Twitter Inc. It took one election and a billionaire bromance to flip the script.
Wall Street banks, including Morgan Stanley (NYSE:MS), Bank of America, and Barclays (LON:BARC), are gearing up to sell a substantial portion of debt holdings in X, the social-media platform controlled by Elon Musk,
Wall Street banks, finally within striking distance of offloading debt tied to X, have a sweetener on offer for potential buyers: a claim on the social-media platform’s stake in Elon Musk’s artificial intelligence venture.
It seems to be working. Elon Musk wants to rebrand Tesla as an AI company. It seems to be working. Andrew J. Hawkins is transportation editor with 10+ years of experience who covers EVs, public transportation,
Banks are preparing to sell off debt used to help Elon Musk purchase X as the tech tycoon tells employees the company is “barely breaking even.” According to reporting from The Wall Street Journal, bankers at Morgan Stanley are planning to offload roughly $3bn in debt during a sale next week and are already contacting investors.
Wall Street banks are hoping this is the week when they can start to recover more from the bad bets they made on Elon Musk’s 2022 Twitter buyout.
Michael Grimes, a top banker at Morgan Stanley, would become the latest leading tech figure to join the Trump administration, as a senior official at the Commerce Department.
The billionaire and his Silicon Valley associates landed in the capital and immediately moved to cut the size of the federal government, reprising the playbook he used after buying Twitter in 2022.
Bankers are reportedly gearing up to offload debt used to fund Elon Musk’s social network, for which he paid $44 billion in 2022, including $13 billion in
Tesla's earnings report and call Wednesday shed light on the electric vehicle maker's plans for new versions of its self-driving software and its humanoid robot, Optimus.
Coverage and analysis of electric vehicle maker Tesla's fourth-quarter financial results, Q&A call, and the stock's reaction.
With annual deliveries dropping for the first time last year, pressure has been mounting for the EV maker to unveil lower-priced models along with autonomous vehicles and software, that CEO Elon Musk said would boost future earnings.