Musk Saves Twitter From "Bankruptcy": On Track To Breakeven

Musk, after laying off more than half of Twitter's staff and introducing a new paid subscription, has now tweeted that the company is "trending to breakeven" .

By Kavya Pillai


Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Tesla CEO, Elon Musk acquired the micro blogging site Twitter for 44 Billion USD and since then has brought on several major changes to the site and the team. Musk, after laying off more than half of Twitter's staff and introducing a new paid subscription, has now tweeted that the company is "trending to breakeven" .

Prior to this Musk claimed that twitter is headed towards bankruptcy due to low advertising revenue. When he had introduced Twitter Blue which was a paid subscription plan that would give accounts the blue verification tick at a monthly cost of $8, several brands backed out from advertising on the platform. Leading to major losses for the microblogging site.

On Sunday, the CEO tweeted that the last three months at Twitter were "extremely tough." Saying he had to juggle between his work on Twitter and his other companies like Tesla Inc, SpaceX and more. He wrote, "Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn't wish that pain on anyone. Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!"

In a follow up tweet Musk said that the daily user count and minutes are "still strong". Since his taking over, Musk has frequently spoken out on the possibility of bankruptcy. However the microblogging site made its first interest payment for the 12.5 Million USD dept that Musk incurred after taking the company private.

Related Topics


21 Productive Things to Do During Your Commute

How to use this frustrating "wasted time" to get smarter, more focused and re-energized.


5 Winning Habits That Will Transform Your Leadership Skills

Ready to take your leadership skills to the next level? Discover the five winning habits that will transform you into an exceptional leader!

Business Solutions

Master Coding for Less Than $2 a Course with This Jam-Packed Bundle

Make coding understandable with this beginner-friendly coding bundle, now just $19.99.

Business Process

Why Embracing Chaos is Crucial to Your Success and Longevity

Chaos engineering is a popular idea in software engineering, centered around the premise that deliberately breaking a system to gain information will ultimately help improve that system's resiliency. Given the uncertainty of our times, CEOs might want to apply this type of approach in their corporate sustainability strategies.

Business News

Meta Employees Interrogate Mark Zuckerberg in Town Hall Meeting

The CEO fielded tough questions from rattled staffers at an all-hands meeting.

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.