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Bank of America and Morgan Stanley commanded the top two spots in the U.S. leveraged-finance investment banking league tables in 2021 and 2022 during some quarters before Musk bought Twitter, according to data from Dealogic. In 2023 and 2024, JPMorgan and Goldman Sachs—which didn’t finance the Twitter deal—have held the top spots.

He’s so toxic that being involved with him can unseat you from being the top two in your industry. This will make people a bit more hesitant to get into bed with him (gross) in the future.

Barclays’s top investment bankers on the mergers and acquisitions team were told at a New York dinner early last year that compensation for everyone in the room would be cut by at least 40% from the prior year. The bank had several hung deals hurting its performance but X was by far the largest, according to people familiar with the situation.

When you’re slashing compensation for your people, especially the ones who bring in real money, you know it’s serious. I’m happy to see X crash and burn and pull down bankers with it. Dumbass mf.

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