I don't think X is going to go bankrupt any time soon, as I'm sure Musk can raise a billion dollars, which is what I understand the annual operating loss to be.

I don't think X is going to go bankrupt any time soon, as I'm sure Musk can raise a billion dollars, which is what I understand the annual operating loss to be. However, in the event that it did, the US has a waterfall payment structure. Secured creditors get paid first, then lawyers, then employee wages and taxes, then unsecured creditors, then shareholders.