Tech billionaire Elon Musk has gained significant public attention over recent years, particularly after acquiring Twitter for $44 billion in 2022. Despite the way he embraced this new role, the recent acquisition has raised concerns among the banks that financed the deal. Reportedly, these banks include Bank of America, Barclays, and Morgan Stanley, all of which are worried about their $13 billion investment. According to a report by the Wall Street Journal, they are considering selling senior debt at lower rates to recuperate their losses.

A fresh email purportedly sent by Musk to his staff suggests dire evaluations: “We’ve witnessed the power of X in shaping national conversations… our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even.” This revelation starkly contrasts with Musk’s previously bullish public statements.

Hours following the report, Musk denied sending such an email, labeling the report as false.

The fate of X’s financial recovery remains uncertain, especially with the ongoing struggles over ad revenues and competition with platforms like Facebook. As investors deliberate on whether an association with Trump could positively impact X’s prospects, the situation continues to evolve.

For extensive details, consult the original report by Wall Street Journal.