Elon Musk has been at the helm of Twitter for some time now, and if there are two words to describe this time, it’s “turbulent. Massive layoffs followed by hiring back some employees account suspensions and reinstatements, trials of certified paid services, and some angry celebrities quitting Twitter.
Can Elon Musk really lead Twitter’s comeback? Will he fail? At least James Gorman, CEO of Morgan Stanley, has faith in Elon Musk.
▲ Big Morgan CEO Gorman
I wouldn’t bet on Elon Musk to lose,” James Gorman said while attending a conference in New York. He thinks Twitter is a great company and Elon Musk is an outstanding manager. James Gorman has toured the Tesla factory in Los Angeles.
Banks like Morgan Stanley offered Elon Musk a $13 billion loan to help him buy Twitter, and now the banks are trying to sell that debt to investors, who seem a little hesitant. Why? Because Twitter itself is in debt, and Elon Musk’s unusual maneuvering makes it hard for investors to put a value on Twitter.
The banks, which saw Elon Musk as a key client and poured money into him, now have a hard-to-sell debt in their hands and are suffering losses.
According to James Gorman, “Institutions like ours are not fools. If it wasn’t a real business and opportunity, we wouldn’t be behind it.” James Gorman believes that the last 50 years have seen a group of the most interesting entrepreneurs, such as Steve Jobs and Gates, and that Elon Musk is on par with them. He said, “If someone has such extraordinary abilities, who wouldn’t want to do business with them? It should be shameful if an organization passes up an opportunity like that.”
