Adding to the chaos at the social media company, new Twitter boss Elon Musk said Twitter could go bankrupt after U.S. regulators warned that two executives who were seen as Twitter's successors also resigned.
In his first address to Twitter’s staff on Thursday (Nov. 10), Musk said he couldn’t rule out the possibility of Twitter going bankrupt if it couldn’t start generating more revenue, Bloomberg reported, citing a person familiar with the matter. According to The Information, Musk told employees that afternoon that Twitter could face losses of billions of dollars next year.
Two weeks ago, Musk bought Twitter for $44 billion (S$62.1 billion). Credit experts say the deal puts Twitter's finances in jeopardy.
Separately, Reuters quoted a source as saying that Twitter executives Yoel Roth and Robin Wheeler have resigned.
It is reported that Musk spoke with advertisers in Twitter Spaces on the 10th to try to allay advertisers’ concerns about Twitter. This chatroom conversation is moderated by Ross and Wheeler.
