Twitter faced ups and downs of its company when its new management arrived, despite getting a massive sum of $44 billion to acquire the company. Elon Musk previously claimed that Twitter was on the verge of bankruptcy, and his recent claims said that he saved it from tipping over, one that may lead to its eventual downfall.
Despite Musk's claims of already saving the company from bankruptcy and already putting it on a more stable footing, there are still problems the company faces in terms of money.
Elon Musk Saved Twitter from Bankruptcy, Problems Are Not Over
Chief Twit revealed to the world that the last three months of his reign as Twitter's owner was "extremely tough," claiming that there is significant work he did to keep the company afloat. It was not a secret that Twitter was once on the verge of bankruptcy, and he confirmed this via a reply tweet back in November for the world to know.
In this same reply, Musk claimed that Twitter's bankrupt problems were now over and were able to save the company from going under, especially with his latest programs on the platform.
However, this is yet to be a time for celebrating and relaxing for the Twitter chief executive, as there are other problems and challenges in the company.
Musk shared a little story of his journey for the past few months as a reply to the Wall Street Journal's report about juggling his responsibilities as a multi-tech billionaire and CEO.
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.
— Elon Musk (@elonmusk) February 5, 2023
Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!
What's the Next Step for Twitter and Mr. Tweet?
As the executive mentioned, Twitter's problems are not yet over, but it is looking toward breaking even with the many programs and subscriptions available on social media towards profitability.
Mr. Tweet said that the company is close to "breaking even" if they continue their current setup towards generating more money for Twitter.
Elon Musk and Twitter
Back in mid-November 2022, Musk agreed with a tweet from Whole Mars Catalog regarding a fact check on Twitter's alleged destruction, claiming that the company was indeed facing bankruptcy during this time.
In an internal meeting as per sources, the billionaire called upon Twitter's employees to reveal that the company may file for bankruptcy in 2023, making its staff aware of the current status of the company.
However, several days later, in his reply to Whole Mars in the same tweet, he also confirmed that the company is heading towards 'sustainable profitability,' which is its ray of hope against losing its money.
The current Twitter owner did not understand much of what he was getting into when he first expressed his desire to purchase the company, and it backfired on him with the bots issue. However, that is not the only one as it also faced bankruptcy, but Chief Twit claimed that through his work with the team, they were able to save it from bankruptcy, but not its other problems yet.
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