Elon Musk’s social network, X, is under fire from advertisers amid concerns about its content policies. The CEO has reportedly taken steps to offload debt used to fund his acquisition for $44 million in 2022, including $13 billion in financing. Morgan Stanley is leading efforts to sell senior debt at between 90-95% recovery, but the situation remains volatile since Musk’s takeover. Advertisers are wary of X’s content, which has been criticized for promoting divisive topics. While Musk claims X’s financials are improving, his January email hinted at stagnating user growth and stagnant revenue, despite its influence in shaping national conversations. Meanwhile, a gesture he made during President Trump’s inauguration has drawn comparisons to a fascist salute, further complicating the matter for big brands. The situation remains uncertain as X works to stabilize its financials and address these concerns.
Source: https://techcrunch.com/2025/01/24/wall-street-banks-plan-sale-of-x-debt-at-a-discount