Guess who besides Trump doesn't pay his debts?

A group of banks including Morgan Stanley, Bank of America, Barclays and Mitsubishi UFJ sold the final piece of debt tied to billionaire Elon Musk's $44 billion buyout of social media platform Twitter, now called X, a source familiar with the matter told Reuters on Monday.

Loans worth $1.2 billion have been sold at 98 cents on the dollar, paying a yield of 9.5%, the source added.

Musk's close relationship with U.S. President Donald Trump and prospects of X's improving revenue have allowed banks to offload almost all of the $13 billion they had been holding on their books for nearly two years.

The acquisition was funded by a $6.5 billion secured term loan, a $500 million revolving credit facility, a $3 billion unsecured loan and $3 billion of secured loans. Morgan Stanley and six other lenders participated in Musk's buyout, lending him a total of $13 billion.

  Reuters

I don't think that was a wise aquisition. Especially at a time when Tesla stock is taking a nose dive. But what do I know?