Twitter Could Go Bankrupt Soon – Elon Musk

Twitter’s new owner, Elon Musk has come out to raise the possibility of the social media platform going bankrupt.

Recall that reports recently said the world’s richest man on his first mass call with employees said that he could not rule out bankruptcy, two weeks after buying it for $44 billion.

In his first email to all Twitter staff, Musk warned that Twitter would not be able to survive the upcoming economic downturn if it fails to boost subscription revenue to offset falling advertising income.

Musk ruthlessly moved layoff staff after taking over on Oct. 27 and has said the company was losing more than $4 million a day, mainly because advertisers started fleeing once he took over.

WOW.