Tag: bankruptcy

Elon Musk is no longer the richest person on Earth and is the first person in history to have lost $200 billion in the last few months. Tesla's value has plummeted, and it's possible that Musk sold further Tesla shares to fund Twitter. Read More: Financial Risks Since it became a private firm, Twitter's financial situation and technological state are not well understood by the general public. Just a few days after acquiring the business, Musk asserted that bankruptcy was a possibility. It was not surprising that Musk would raise the threat of bankruptcy given the enormous debt he went on to acquire Twitter, whose yearly loan payments will significantly exceed the yearly revenues even before advertisers left the site. In order to pay its interest, Twitter now requires $1 billion annua...