Elon Musk, wearing a black suit and tie and flanked by a police officer and a body guard, departs following a meeting at the US Capitol in Washington, DC, on September 13, 2023
Elon Musk.
  • Wall Street helped Elon Musk buy Twitter last year by loaning him $13 billion.
  • The banks are now preparing to unload the debt, and expect to take a 15% hit, per the WSJ.
  • The biggest lenders like Morgan Stanley and Bank of America would lose hundreds of millions of dollars.

The banks which helped Elon Musk take over Twitter are expecting to lose $2 billion on the loans they gave him, according to The Wall Street Journal.