Twitter CEO Elon Musk claimed on Sunday that the richest man in America told employees that “bankruptcy is not out of the question” shortly after his tumultuous tenure as Twitter boss, just months after the social The media company is “heading towards breakeven”.
in reply to a tweet wall street journal Articles about his intense workload, Kasturi Said His “last 3 months were extremely difficult,” running Twitter, SpaceX, and Tesla, adding that he “wouldn’t wish that pain on anyone.”
Twitter “still has challenges, but if we keep at it, it’s going to break,” he claimed that he had to “save Twitter from bankruptcy,” though he cited no specific evidence of the company’s sudden turnaround. Did not give
We estimate that Musk is worth $184.2 billion, largely due to his stake in Tesla, making him the richest person in America and the second richest person on Earth.
Musk took over Twitter in late October after a $44 billion acquisition and immediately launched massive layoffs, putting hundreds of employees out of work. He previously claimed the company was losing $4 million a day, and in November he told employees "without significant subscription revenue, there's a good chance Twitter will not survive the upcoming economic downturn." Musk has focused his efforts on Twitter Blue, a subscription service for $8 a month that allows users to get a verified checkmark and see fewer ads, among other features. A recent auction of vintage memorabilia from the company, including a bust of the Twitter logo, brought in thousands of dollars. But it's unclear whether the sign-up and Musk's efforts were able to balance Twitter's $18.5 billion debt in November or the company's decline in advertising revenue. Twitter lost $ 270 million in the last three months of 2022. Information It reported in January that ad sales were down 40% compared to January of the previous year, and that 500 of the company's top advertisers had halted spending since Musk took control, sometimes asking Musk for content moderation. Citing a less stringent approach.
Twitter bird statue sells for $100,000 as Musk auctions off old company Mementos (Forbes)
Kasturi told employees Twitter could go bankrupt without financial turnaround, says report (Forbes)
Twitter's money problems deepen: Revenue plummets as major advertisers shipwreck following Musk's takeover (Forbes)
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