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.

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,

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.

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.

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 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.

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.

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.

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.

(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.

Bankers at Morgan Stanley have contacted investors ahead of next week’s planned sale of up to $3 billion in debt that lenders granted Elon Musk in order to finalize his 2022 of Twitter.