Thanks, Elon! How X debt sale helped Morgan Stanley's earnings

Ted Pick, CEO of Morgan Stanley.

Jeenah Moon/Reuters

• Morgan Stanley posted strong 1Q earnings on Friday, boosted by its equities trading business.
• Earnings also reflected the sale of loans tied to Elon Musk's purchase of X.
• The loans were on the company's books until recently, as Musk's star rose in relation to Trump.

Morgan Stanley's long-time relationship with Tesla CEO Elon Musk is paying off.

The investment bank on Friday posted net income of $4.3 billion in the first quarter...