Musk has taken a loan of $ 13 billion in the name of Twitter.
Image Credit source: AFP
Twitter the new boss Elon Musk Every statement is becoming a controversy. Now he has said that he is looking to cut the company’s infra cost by $ 1 billion so that the company’s revenue can be corrected. Now a company like Twitter, whose market cap is about $ 41 billion, how much does $ 1 billion mean for that company.
$75 billion sunk in 11 months
This thing becomes more special here when you look at the net worth of Elon Musk himself. According to a Bloomberg report, Elon Musk, who is called the world’s richest person, has lost $ 75 billion in assets so far in the year 2022. The main reason for the sinking of assets is the dismal performance of Musk’s company Tesla. The stock has fallen 37 percent so far in the year due to slow growth in sales. The company is battling slowdown, declining demand and inflation.
Isn’t Twitter the biggest mistake somewhere?
According to reports in foreign media, to complete the deal, Musk has taken a loan of $ 13 billion in the name of Twitter. Will have to pay The situation is difficult because Twitter is already making losses. This is the reason why Musk is taking fast decisions to both reduce costs and increase income. Twitter could turn out to be Musk’s biggest mistake if the plan doesn’t go as expected.
Tesla and SpaceX also worried
Tesla’s investors are worried about the Twitter deal. At the same time, after paying $ 44 billion, Tesla investors are apprehensive that Musk’s attention may not be diverted from his core business to make the deal a success. Due to which the sentiments about Tesla are deteriorating. At the same time, the market is assuming that after continuously investing money in Tesla and SpaceX, it has become necessary for Musk to make Twitter profit by any means.
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