Tech billionaire Elon Musk has been a public figure for decades, but has enjoyed an outsized profile in recent years, not a little of which is down to his decision to acquire Twitter for $44 billion in 2022. In the end, that deal was almost forced on Musk after the courts got involved, but you wouldn't know it from the way the trollish memester launched into his new role with various galaxy-brained schemes that mostly seem to have made Twitter worse: Including, of course, renaming it X.
A new report by the Wall Street Journal claims that some of the banks that helped Musk finance the deal are now getting a little antsy about their investment (some $13 billion of the total) and are looking into how they claw it back. Institutions including Bank of America, Barclays, and Morgan Stanley have been holding onto the debt, hoping for more favourable economic headwinds, and are now hoping to per the WSJ "sell senior debt at 90-95 cents on the dollar, while retaining more-junior holdings."
