Elon Musk could sell billions in Tesla stock to plug X’s financial holes [Video]

The big picture: For Tesla investors, Elon Musk’s $44 billion acquisition of Twitter is starting to look like a costly endeavor that just won’t go away. As the social media platform’s financial woes deepen, there are growing concerns that Musk may have to unload more of his Tesla shares to keep X afloat.

The signs aren’t promising, according to a Fortune report, as X’s advertising revenue, its primary income source, has plummeted since Musk’s takeover amid a boycott from major brands. Recent reports indicate that Q2 2024 US ad revenue crashed 84% from a year ago when accounting for inflation. X isn’t even reporting financials anymore, so outsiders can only speculate about the depth of its money pit.

Musk himself warned of potential bankruptcy last November if the ad situation didn’t improve, and any talk of profitability has gone silent, …