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.
Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two sources with knowledge of the matter said Friday. Morgan Stanley bankers have reached out to investors ahead of a planned sale next week, the people added.
Musk reportedly wrote, "we've witnessed the power of X in shaping national conversations and outcomes... [but] our user growth is stagnant [and] revenue is unimpressive."
Elon Musk recently shared to X employees that the company is struggling to break even, and it is still its problem.
In a recent internal email to employees, Elon Musk, CEO of X, acknowledged the platform's ongoing financial challenges.
According to an internal email sent by Elon Musk to employees, X is 'barely breaking even,' citing stagnant user growth and underwhelming revenue
Wall Street banks are preparing to sell up to $3 billion in debt linked to X, Elon Musk's social media platform. Morgan Stanley has contacted investors for a sale next week, aiming to recover 90-95 cents on the dollar.
Hollywood icon Morgan Freeman said in a 2016 interview that he owned Tesla stock. A $10,000 holding then would be worth over $300,000 now.
Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two people with knowledge of the matter said on Friday.
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 warns X staff of stagnant user growth and revenue challenges while banks plan to sell $13 billion in X debt.
Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two people with knowledge of the matter said on Friday. Morgan Stanley bankers have contacted investors ahead of a planned sale next week, the sources said.