Elon Musk says Twitter is “close to breaking even” after he had to save the social network from “bankruptcy.”
He wrote that the past three months have been “extremely tough,” juggling saving Twitter with his responsibilities at Tesla and SpaceX.
“I wouldn’t wish this pain on anyone,” complained Musk.
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!
— Elon Musk (@elonmusk) February 5, 2023
Daily users and user minutes remain strong, Musk tweeted.
Since acquiring Twitter, Musk has openly and often talked about the possibility of bankruptcy of the social network. However, last year the platform made the first interest payment on the $12.5 billion debt that the new owner used to make it private, boosting confidence in its ability to avoid bankruptcy in the near term.
However, lamenting his difficult fate as the owner of Twitter, Musk does not specify that most of the social network’s problems are related to his chaotic management style, which led to mass layoffs in the company and the loss of advertisers.