Elon Musk email to X staff: ‘We’re barely breaking even’

Ever since Elon Musk closed his deal to buy Twitter he’s claimed the company, now called X, is in “a very dire situation from a revenue standpoint.”

Now, the Wall Street Journal reports that banks are preparing a coordinated move to sell off some of the $13 billion in debt they loaned Musk to finance the deal. It mentions an email sent to employees this month, also confirmed by The Verge, where the Chief Twit said, “...we’ve witnessed the power of X in shaping national conversations and outcomes,” but also claimed, “Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even.”

Part of the reason Bank of America, Barclays, and Morgan Stanley are holding so much of the debt is from trying to avoid selling at a loss after economic conditions changed, and Musk had an extended court battle attempting to get out of the deal.

As Musk referenced in his email, the report says the banks hope to use the narrative of Musk’s link to Donald Trump, as some unnamed investors may be interested in buying based on a belief that its financials are on the way up. However, Musk also said that the company could become cash-flow positive “within months” nearly two years ago, and it still faces over $1 billion in annual interest payments on the loans.


Elon Musk email to X staff: ‘we’re barely breaking even’

Dude ruined Twitter lol

If this was any other businessman that wasn’t a government baby, he woulda been bankrupt a long time ago. Those subsidies are keeping this alien going.