Elon Musk Reportedly Strives to Raise $3 Billion to Save Twitter

Musk ’s apparent endeavor to fix funds comes after approximately 6,000employees at the caller were lay off . The company has also been dealt a blow in the anatomy offiled case from build direction companiesthat exact Twitter breached its contract by not paying tear , and the company is face effectual implications with the Crown Estate in the UK forfailing to pay tear in its London situation space .

Three months into his Twitter takeover , Musk has been finding extra ways to cut costs , includingauctioning offfurniture , office supplies , and even aniconic bluish shuttle statue , which sold for $ 100,000 . When Musk dispatch his$44 billion buyoutof the social media platform , he also grow $ 1 billion in annual interest . As Musk has reach out to Modern and subsist investor to elevate extra funds , some of them have expressed condescension and concern over Twitter ’s futurity , the Wall Street Journal reported .

Twitter has seen a solid going in income as around 500 of its topadvertisers have pulled back on the chopine , resulting in a personnel casualty of more than $ 4 million a Clarence Day , bring in its revenue down by 40 % . In November , Musk went so far as to offer doomsday forecasting , suppose that bankruptcy could be a possibility for the company . He subsequently backtracked following the slew layoff , say he anticipate Twitter to break up even financially in 2023 .