The largest US banks sold the last part of Musk's debt to buy Twitter

A group of the largest Wall Street banks was able to resell the last part of the debt provided to American billionaire and entrepreneur Elon Musk for the purchase of the social network Twitter (X). This was reported on April 28 by The Wall Street Journal (WSJ).

"On Monday, the banks sold the last part of the debt they had issued for Musk's takeover of Twitter in 2022. Loans worth $1.2 billion were sold for 98 cents on the dollar," the newspaper said, citing sources.

It is clarified that Musk managed to gain control of the social network thanks to the help of seven banks.

Earlier, on March 29, Musk's startup xAI bought all shares of the social network X. The cost of the merger is $80 billion, and X is $33 billion, Musk announced. xAI was founded two years ago and now creates high-speed data processing models.