Twitter was not exactly in the best shape when Elon Musk took over last year. That’s not a secret. Elon Musk just shared more info, though, claiming that he had to save Twitter from bankruptcy, in a reply to The Wall Street Journal.
Elon Musk apparently “had to save Twitter from bankruptcy”
In a new tweet, he said that the “last 3 months were extremely tough”. He continued by saying that he “had to save Twitter from bankruptcy”, while also focusing on “essential” Tesla and SpaceX duties.
He added that Twitter still has “challenges”, but that things are much better than they were. Musk says that the platform is “trending to breakeven”. Musk also thanked everyone for their support.
It is worth noting that Twitter was able to pay the first interest payment on the $12.5 billion of debt that Musk borrowed in order to close the purchase of the company.
Overall, things haven’t really been going great for Elon Musk, on the financial side of things. He became the first person to lose $200 billion in wealth in a single year. That was last year. The decline of Tesla shares are the main reason why, but not the only one.
The company has seen many changes since Musk took over
Twitter has implemented a lot of changes since Musk took over, and chances are we’ll see much more moving forward. Some of the changes have been very welcomed, as they made the app more functional.
It remains to be seen what will happen moving forward. Twitter allegedly plans to charge businesses $1,000 to keep their Gold checkmark. We’re not sure if there’s any truth to this, but it did surface recently. Twitter has yet to comment on that news.
The platform will likely change rapidly, though, as Elon Musk has huge plans for Twitter. He didn’t spend all that cash for nothing, of course.