Nov 11, 2022

Elon Musk tells Twitter staff about possible bankruptcy, top executives leave

Posted by in category: Elon Musk

Twitter might attract FTC fines for non-compliance.

The world’s richest person Elon Musk has warned staff at this newly acquired social media company that bankruptcy was very much a possibility at Twitter. The result has been an exodus of top executives at the company, The Guardian.

Nearly two weeks after finally agreeing to acquire Twitter, Musk held an all-hands meeting at the company and once again spoke about the amount of money the company was losing. According to The Information, Musk warned that the current cash outflow rate at the company would lead to a negative balance of billions of dollars by 2023. His idea of Twitter Blue subscriptions was the only way to keep the company alive.

Comments are closed.