Elon Musk says Twitter Inc. is “trending to breakeven” after he had to put it aside from “chapter.”
The billionaire stated in a tweet Sunday that the final three months have been “extraordinarily powerful.” He needed to juggle the rescue of the social-media platform with tasks at two different firms he oversees — Tesla Inc. and Area Exploration Applied sciences Corp., or SpaceX.
“Wouldn’t want that ache on anybody,” Musk stated.
Day by day consumer rely and consumer minutes are “nonetheless sturdy,” Musk stated in a follow-up tweet.
Musk final yr accomplished a $44 billion deal for Twitter that gave him management of the corporate for $54.20 a share. Additionally final yr, he grew to become the the primary particular person in historical past to have $200 billion erased from his fortune, based on the Bloomberg Billionaire’s Index.
Because the takeover, Musk has overtly and ceaselessly talked about the opportunity of chapter for Twitter. Nonetheless, the platform made its first curiosity fee on the $12.5 billion in debt that the brand new proprietor used to take it personal final yr, bolstering confidence in his capability to avert chapter within the close to time period.
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