Elon Musk
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- neverscared5
Is Elon Musk’s Twitter in too much trouble to cover its debts?
Social media platform faces $300m interest payment this week, and default could trigger debt restructuring – or bankruptcy
Elon Musk sold a statue of Twitter’s bird logo last week for $100,000 – and he needs the money. The social media platform that he owns reportedly faces an interest payment of about $300m (£242m) on its debt this week, amid difficult financial conditions for the company.
Twitter has been a loss-making business, even in the good times, but its problems have worsened since it was bought by the Tesla chief executive less than three months ago. Musk himself has raised the spectre of Twitter entering chapter 11 bankruptcy, although he has since played that prospect down. How much trouble is Twitter in, months after it was bought by the world’s second richest man?
- The Twitter auction last week brought in nearly $200,000. That will go a long way in paying the $300M in interest that Twitter owes on February 1st, LOLutopian