Morgan Stanley plans to boost sale of loans tied to Musk's X to $5.5 billion

Morgan Stanley and a group of banks plan to increase the sale of loans linked to Elon Musk's social media platform X. They now aim to sell up to $5.5 billion, up from an initial target of $3 billion. This change follows stronger-than-expected demand from investors. The banks had previously struggled to sell the debt after Musk's $44 billion buyout of X in 2022. The improved outlook for the platform, partly due to Musk's political connections, has helped banks avoid significant losses on the loans.