The SpaceX and Tesla CEO said that Twitter needs to 'reach positive' cash flow' before it can have the 'luxury of anything else.'
Elon Musk, Mark Zuckerberg have seemingly agreed to cage match, sparking reaction all across social media.revealed Saturday that Twitter’s cash flow is still negative due to a drop in advertising on the site and a "heavy debt load" following his $44 billion buy last year.
Advertisers began to leave the platform after he bought it last fall — leaving Twitter with roughly $1.5 billion in annual interest payments — and controversial decisions after, includingand making changes to content moderation like reinstating accounts that had previously been banned from the site.
In March, Musk claimed that Twitter had a "shot" at becoming cash positive by the next quarter and said that some of the advertising loss with cyclical but that other advertisers had left for "political" reasons, according to Reuters.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk adds AI to empire of Twitter, Tesla, SpaceX, Neuralink & Boring CompanyElon Musk just added to the numerous companies he's involved with when he official introduced his new artificial intelligence firm, xAI. FOX Business takes a look at his other endeavors.
Read more »
Elon Musk plans Tesla and Twitter collaborations with xAI, his new startupTesla CEO Elon Musk said on Friday that he plans for his newest venture, the artificial intelligence startup xAI, to collaborate with the automaker both on the 'silicon front' and on the 'AI software front.'
Read more »
Elon Musk's SpaceX nears $150 billion valuation after secondary share saleThe valuation of Elon Musk's SpaceX hit near $150 billion following a share sale by existing investors announced this week, CNBC has learned.
Read more »
Elon Musk's SpaceX valuation rockets to $150B after share saleThe most valuable startup in the US just got even bigger – Elon Musk's SpaceX is now worth almost $150 billion
Read more »
Spacex valuation hits $140 billion following recent share saleThe value of Elon Musk's private space venture increased as the new share price climbed 5% from its previous secondary sale.
Read more »