Elon Musk managed to buy Twitter after a long struggle. But the founder of Tesla and SpaceX could not find what he wanted in the social media space. The famous businessman, who previously made striking statements due to the company’s revenues, declared bankruptcy for Twitter! Let’s take a look at the details of the news together.
Elon Musk has announced that Twitter can file for bankruptcy!
Before buying Twitter, Elon Musk announced that he would clean the social media platform of fake accounts and then create a more free space. However, there was a turmoil when all the accounts that paid money after the purchase reached the blue tick. Some fake accounts have replaced famous names and brands by paying a fee. In addition, as soon as Elon Musk bought Twitter, he fired thousands of people, including senior executives, causing an atmosphere of distrust.
While Elon Musk is dealing with these issues, big brands have announced that they will stop ads that make up Twitter’s big source of income. After the announcement of automobile brands, technology giant Apple also stated that it would stop advertisements due to “insecurity”.
According to the news of Gizchina, Elon Musk announced during a meeting that Twitter will soon file for bankruptcy if the situation does not improve. Apart from that, the famous business person had recently made a statement stating that the platform has reached the highest number of users ever, and therefore the servers may burn.
In addition, it is among the news that Elon Musk is working on new features to make money on Twitter and therefore recalls some of his employees. But it is not yet known whether the employees have returned.
What do you, our readers, think about this issue? Do you think there is truth in Elon Musk’s statements or is the company about to go bankrupt? You can express your views in the Comments section.
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