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.

Though Musk notes that X is 'shaping national conversations,' that's not going to help banks collect on the money they put up to help Musk buy Twitter in 2022.

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.

X owner Elon Musk said growth on his platform is "stagnant" and revenue is "unimpressive" in a January email to staff that was reported by the Wall Street Journal on Friday. "And we're barely breaking even,