Morgan Stanley is marketing a $3 billion debt offering tied to X, formerly Twitter, after struggling with the debt since Elon Musk’s 2022 buyout. Investor interest has surged due to Musk’s relationship with Donald Trump and X’s stake in his AI venture, xAI. X’s revenue has dropped nearly 50% since the buyout, but Musk’s cost-cutting measures have stabilized earnings. While the valuation may not reach the original $44 billion, the improved financials are attracting secured creditors.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Morgan Stanley is marking a $3 billion debt offering tied to X,
00:06formerly Twitter, after struggling with the debt since Elon Musk's 2022 buyout.
00:11Investors' interest has surged due to Musk's relationship with Donald Trump
00:14and X's stake in his AI venture, XAI.
00:18X's venture has dropped nearly 50% since the buyout,
00:21but Musk's cost-cutting measures have stabilized earnings.
00:25While the valuation may not reach the original $44 billion,
00:28the improved financials are attracting secure creditors.