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,

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.

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.

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.

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

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 investor

Pacific Investment Management Co. is among asset managers looking at buying a portion of $3 billion of debt tied to Elon Musk’s buyout of X, according to people with knowledge of the matter.

The EV giant missed Q4 earnings and sales views late Wednesday. But Tesla stock rose as robotaxi hopes. Elon Musk is on the earnings call.

(Reuters) - Michael Grimes, a technology banker with Morgan Stanley, is in talks to leave the bank for a position in U.S. President Donald Trump's administration, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions.

The Wall Street Journal reports banks are close to selling some of the $13 billion in debt they took on while helping Musk buy Twitter in 2022.

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.