Twitter’s new owner, Elon Musk, reportedly laid out a dire financial forecast late Thursday, saying the social-media company could lose billions of dollars and that bankruptcy cannot be ruled out.
Twitter’s new owner, Elon Musk, laid out a dire financial forecast late Thursday, saying the social-media company could lose billions of dollars and that bankruptcy cannot be ruled out, according to multiple reports.
According to The Information, Musk told Twitter employees at the all-hands that the company could lose “several billion” dollars next year, and said “bankruptcy is not out of the question.” Earlier this week, Musk disclosed nearly $4 billion in recent sales of his Tesla TSLA, +7.39% shares; on Thursday, Musk said that was done to “save” Twitter, according to the New York Times.
Musk reportedly said the company’s future largely rests with the success of Twitter Blue, which this week started awarding blue checkmarks to users who pay $8 a month, creating immediate havoc with fake accounts impersonating verified users.
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