- Elon Musk said on Saturday that bankruptcy was no longer an imminent fear for Twitter.
- He told the All-in Podcast that new management had brought the company’s expenses “under control.”
- After sealing the $44 billion deal, Musk had planted the idea that bankruptcy could be on the cards.
- For more stories visit Business Insider.
Elon Musk said that bankruptcy was no longer an imminent fear for Twitter because expenses were now “under control.”
Appearing on the All-in Podcast alongside “PayPal mafia” member David Sacks, Musk began commenting on Twitter’s latest feature that lets users see how many people view their tweets: “Overall, that seems to be going in a good direction.”
“We’ve got the [Twitter] expenses reasonably under control,” Musk then said. “So the company’s not, like, in the fast lane to bankruptcy anymore.”
In a follow-up tweet responding to a user who quoted the billionaire, Musk doubled down: “Twitter isn’t secure yet, just not in the fast lane to bankruptcy. Still much work to do.”
Twitter isnâ€™t secure yet, just not in the fast lane to bankruptcy. Still much work to do.
— Elon Musk (@elonmusk) December 25, 2022
Insider reported in November that Musk had raised the prospect of bankruptcy in his first meeting with Twitter employees after one worker asked him what would happen if his plans to increase revenue failed.
In June, Musk said he was worried about keeping Tesla afloat amid supply-chain issues.
Bankruptcy is usually a last resort for troubled companies, but it could be beneficial to Twitter after Musk loaded it with debt of more than $10 billion to fund his $44 billion buyout.
Twitter didn’t immediately respond to a request for comment by Insider.