What’s chirping in the world of social media? X, formerly known as Twitter, has received its fair share of bouquets and brickbats as a platform that has shared ideas, thoughts and news in an evolving number of characters. Founded in 2006, X was bought by Tesla and SpaceX CEO Elon Musk in October 2022, which stirred waves in the tech industry. To acquire Twitter, Elon Musk took on about $13 billion in debt, which he personally guaranteed. The debt is said to be structured in two parts. First is a $7 billion senior secured bank loan.