A new report reveals that the banks which funded Musk's Twitter takeover are still saddled with that debt as investors grow disinterested in the platform.
Ever since Elon Musk took over X, formerly known as Twitter, this time last year, plenty of decisions ranging from head-scratching to plain bad have been made. As the platform has seemingly done nothing but ostracize its user base, the data appears to show that the banks that lent Musk the money to purchase Twitter are still hanging on to all of their debt.
These banks reportedly hoped to sell the debt by Labor Day, but are beginning preparations to offload some of it. Banks involved with Musk’s purchase of Twitter include Morgan Stanley, Bank of America, Barclays, and MUFG, with BNP Paribas, Société Générale, and Mizuho also involved in some capacity. Twitter did not immediately return Gizmodo’s request for comment on the report.
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