The billionaire told Twitter employees on a call that that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for $44 billion – a deal that credit experts say has left Twitter’s finances in a precarious position.
The US Federal Trade Commission said it was watching Twitter with “deep concern” after these three privacy and compliance officers quit.In his first meeting with all employees at Twitter on Thursday afternoon, Musk warned that the company may lose billions of dollars next year, the Information reported.
Musk, who ruthlessly moved to clean house after taking over Twitter for $44 billion on October 27, has said the company was losing more than $4 million a day, largely because advertisers started fleeing once he took over. Musk announced plans to cut half its workforce last week, promised to stop fake accounts and is charging $8 a month for the Twitter Blue service that will include a blue check verification.“We are tracking recent developments at Twitter with deep concern,” Douglas Farrar, the FTC’s director of public affairs, told Reuters.
In the internal note cited above, the attorney mentioned hearing Twitter’s legal chief Alex Spiro say that Musk was willing to take a “huge amount of risk” with Twitter. “Elon puts rockets into space, he’s not afraid of the FTC,” the attorney quoted Spiro as saying.
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