Twitter may go bankrupt, warns Elon Musk

The new owner of Twitter, Elon Musk, who bought the company for $44 billion, has warned about the possibility of Twitter going bankrupt in the wake of the departure of the senior executives from the organisation.
Robin Wheeler and Yoel Roth, who were the moderators for a Twitter Spaces chat with Musk on Wednesday, have also resigned. Damien Kieran, the Chief Privacy Officer, and Marianne Fogarty, the Chief Compliance Officer, were others among the list to resign from Twitter.
According to the US Federal Trade Commission, these resignations place Twitter at the risk of violating regulatory orders. Musk has made a warning to the company that it may be on the verge of losing billions of dollars next year. Roth, the former head of safety and integrity at Twitter, stated that views of harmful content have been reduced by Twitter by about 95% in comparison to pre-Musk acquisition era.
Musk said that after he has taken over the company, it recorded loss of over $4 million a day, mostly since advertisers started leaving the company. According to reports, Musk has put Twitter on a debt amounting to $13 billion, facing interest payments near to $1.2 billion in the upcoming twelve months.
Musk has earlier made the announcement of reducing half of the workforce of Twitter and has also introduced a price $8 in a month for the Twitter blue check verification. According to Musk, his aim was to turn Twitter into a force for truth and thereby, preventing fake accounts.


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