As Musk referenced in his email, the report says the banks hope to use the narrative of Musk’s link to Donald Trump, as some unnamed investors may be interested in buying based on a belief that its financials are on the way up.

Elon Musk warns X staff of stagnant user growth and revenue challenges while banks plan to sell $13 billion in X debt.

Elon Musk's email to X employees reveals the company faces serious revenue issues, with stagnant user growth and barely breaking even. Despite recent changes and a push for free speech, ad revenue has declined significantly since his $44 billion takeover.

Musk's response to the accusations has included the complaint that the "legacy media" is trying to cancel him.

Multiple "subreddits" have banned links from Elon Musk's X platform after the tech mogul flashed a gesture that critics have said resembled a Nazi salute.