The world's richest man, now firmly embedded in the Trump administration, has lost over $11 billion since the start of the year.

Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two sources with knowledge of the matter said Friday. Morgan Stanley bankers have reached out to investors ahead of a planned sale next week, the people added.

The bank is the latest large company to roll back its flexible working policies brought in during the Covid-19 pandemic.

The British-headquartered lender unveiled a more stringent approach to hybrid working in a memo to staff earlier this week, which cut the minimum number of days staff can work from home from three down to two.

That answer may well be true. After all, sales of purely internal combustion vehicles have been in decline globally since 2018. Last year, EVs and hybrids together made up 20% of U.S. new car sales and that number is significantly higher globally, propelled especially by China, where EVs alone make up 50% of new car sales.

The Wall Street Journal reports that banks are planning to sell part of the $13 billion in debt they gave Musk to buy Twitter.

Elon Musk has promised a rebound in Tesla sales this year after a disappointing 2024, with leaps forward in artificial intelligence that will enable unsupervised, self-driving cars on Texas roads by June.

Potential buyers are finally seeing some signs that X might be bouncing back after the platform reportedly suffered serious losses under Elon Musk.

The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.

Musk reportedly tells X staff 'we're barely breaking even' as the big banks start getting antsy over their debt When you buy through links on our articles, Future and its syndication partners may earn a commission.

Wall Street banks are preparing to sell up to $3 billion in debt linked to X, Elon Musk's social media platform. Morgan Stanley has contacted investor