Elon Musk, world's richest man, has sent an email to his employees working with X and expressed concerns about the financial health of the company. According to an internal email sent by Elon Musk to employees,

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.

Since his takeover of then-Twitter in 2022, Mashable has reported that X's user base has declined, fleeing for alternatives like Bluesky, especially after the 2024 U.S. presidential election. Advertisers have been no different, with the trend of companies removing ads on X expected to continue this year.

Twitter's financials are still looking pretty dire — as owner Elon Musk himself admitted in a January email to staff reviewed by the WSJ.

Musk told employees about the controversial social network's financial struggles earlier this month, as US banks look to find buyers for the company's mammoth debt pile.