Potential buyers are finally seeing some signs that X might be bouncing back after the platform reportedly suffered serious losses under Elon Musk.
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.
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.
Musk once dreamed of making X the “biggest financial institution in the world,” taking the first step of launching a peer-to-peer payments competitor to PayPal’s Venmo, Block’s Cash App and bank-owned Zelle.
JPMorgan Chase CEO Jamie Dimon and Tesla CEO Elon Musk have resolved their past differences with a reconciliation at the World Economic Forum, where Dimon expressed admiration for Musk's enterprises.
The tech billionaire and top Trump ally visited the General Services Administration, which appears to be a key part of his crusade to cut the cost of government buildings.
Federal agencies have offered exits to millions of employees and tested the prowess of engineers — just like when Elon Musk bought Twitter. The similarities have been uncanny.
Tesla ( TSLA) shares “appear to be bulletproof,” Deepwater Asset Management Managing Partner Gene Munster wrote on X last night. He saw the company’s latest quarterly results as “messy,” citing the profitability of its auto sales, but “Investors don't care because it's all about what's on the come.”
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The world's richest man, now firmly embedded in the Trump administration, has lost over $11 billion since the start of the year.
Elon Musk's EV maker invested $1.5 billion in bitcoin in early 2021. Companies can now record paper gains on cryptocurrencies as net income.
He's known as a Jamie Dimon protegé, a 9/11 hero, and an operational expert. Now Fiserv's Frank Bisignano can add government hell-raiser to his résumé.