It’s not a secret that the world’s richest man Elon Musk bought Twitter. He was eager to buy it for a long time and hinted at it for years. However, he managed to buy it after lots of negotiations with the company this year.
Also, he didn’t forget to change the management after. However, the news from Twitter isn’t that exciting after his purchase. What happened after Elon Musk bought Twitter?
What happened to Twitter after Elon Musk bought it?
After Elon Musk bought the social media platform Twitter for $44 billion. Then he largely laid off employees as he wanted to shape and turn a profit. But now news from the United States says that Elon Musk’s changes have backfired on him and have led the company to bankruptcy.
Elon Musk’s Twitter ownership is in disarray on Thursday, with the resignation of one of its most important chief executives, Bloomberg reported on Thursday.
The confusion comes a day after the chaotic launch of new features introduced by Tesla and SpaceX owner Musk.
Why do Twitter Employees leave the company after Elon Musk’s entrance?
Members of Twitter’s top privacy team reportedly quit, with Chief Security Officer Lee Kisner tweeting, “I’ve made the tough decision to leave Twitter.”
Musk was not flexible with them This is due to Musk’s threatening speech to employees that if the situation is not changed, the problem will escalate.
Why Advertisers don’t Thrust Twitter anymore?
US media reported that advertisers are fed up with Twitter. The departure of Yoel Roth, the site’s head of trust and safety, and Robin Wheeler, who played a key role in connecting Twitter with advertisers and is considered a key Musk ally, has shaken up the company internally.
Musk laid off half of Twitter’s staff, fired many top executives and ordered the remaining employees to stop working from home within two weeks.
Why was Twitter removed from the Share market after Elon Musk?
Due to the current crisis in the company, the purchase of Twitter shares has been removed from the scrutiny of the Twitter public markets, and Musk has been burdened with nearly 13 billion dollars in debt, according to the report. It is said that the future of Twitter is now in the hands of seven Wall Street banks.
Confidence in the company has eroded so rapidly that even before Musk’s bankruptcy filing, some were offering to buy some funds for as little as 60 cents on the dollar. That’s a price typically reserved for companies in financial distress,
Bloomberg
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