Musk-Trump Bromance Turns X Debt From Burden to Asset for Morgan Stanley
Just a few months ago, Morgan Stanley was stuck with billions of dollars of unloved debt tied to Elon Musk's controversial 2022 buyout of social-media platform Twitter Inc. It took one election and a billionaire bromance to flip the script.
Helped by Musk's singular relationship with President Donald Trump and the tech mogul's newfound proximity to the White House, Morgan Stanley is discovering that investors are drawn to the debt of the company now called X as it leads banks in marketing a $3 billion offering. Potential buyers who already got a peek at X's financials are seeing signs of a rebound. And as an added bonus, investors will gain exposure to the company's stake in Musk's artificial intelligence project, xAI.
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