![]() ![]() Since his acquisition closed in late October, Mr. Musk’s $44 billion acquisition of Twitter, the billionaire said the company would have gone bankrupt “in four months” if not for his cost cutting. ![]() In the interview, which was conducted by Michael Grimes, a Morgan Stanley banker who helped broker Mr. After the cuts, the company has a chance of having positive cash flow in its second quarter, he said. Musk, Twitter’s new owner, said he had taken drastic measures to improve the company’s financial health, slashing what he said was some $3 billion of operational expenses. Speaking at a conference hosted by Morgan Stanley in San Francisco on Tuesday, Mr. Elon Musk said Twitter was recovering financially after seeing a 50 percent decline in ad revenue, making one of his first public disclosures about the state of the social media company since he acquired it last year. ![]()
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