Elon Musk bought Twitter.
Courtesy of Reuters (Reuters)
Elon Musk sent emails to Twitter employees yesterday (Wednesday) in which he wrote that the financial situation of the company is bleak and that the company could lose billions next year.
"Sorry this is my first email in the company, but I have no way to sweeten the news," Musk wrote.
"We are facing a difficult economic situation, even possible bankruptcy."
The richest man in the world shared with the employees of the social network he purchased that his top priority is locating bot accounts.
At the same time, it was reported that Yoel Roth, a company executive who is responsible for "safety and integrity", will leave his position.
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"I have no way to sweeten the news."
Elon Musk (Photo: Reuters)
Yesterday it was announced that Musk sold about 19.5 million shares of the Tesla company, which equates to about 3.95 billion dollars.
The move was made after the purchase of the social network Twitter for 44 billion dollars by the richest man in the world.
Now, Musk has shared with his employees that the reason for this is to try to prevent the collapse of Twitter.
In 2021, when the value of Tesla shares jumped by more than 50%, Musk sold shares of the company worth almost 22 billion dollars.
This year he already managed to sell shares worth about eight billion dollars in April and seven billion in August.
Before the last share sale, Musk owned about a quarter of the company's shares.
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His top priority is finding bot accounts.
Musk (Photo: Reuters)
After the last massive sale of the company's shares in August, Musk said that he did not intend to sell any more shares for the purpose of buying Twitter.
Tesla shares have crashed this year by 46%, but he is still the richest man in the world, with an estimated fortune of about 200 billion dollars.
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