New Twitter owner and CEO Elon Musk on Tuesday poked fun at himself and the social media giant he says was losing millions of dollars a day when he acquired it last fall, referring to the platform as “the world’s largest non-profit.”
“Say what you want about me,” the multi-billionaire tweeted, “but I acquired the world’s largest non-profit for $44B lol.”
Musk has made it no secret that he has faced significant challenges in trying to turn the company around.
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Just a week after taking over at the helm of Twitter in late October, Musk lamented the company’s “massive drop in revenue,” which he attributed to “activist groups pressuring advertisers.”
Since then, Musk has made a series of controversial changes to the platform, including cutting about half of Twitter’s staff, rolling out a revamped Twitter Blue subscription service, and even auctioning off memorabilia from the company’s San Francisco headquarters.
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Musk, who is still CEO at SpaceX and Tesla, defended the Twitter layoffs in November by saying that the company was losing $4 million a day.
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A few weeks ago, he tweeted that the past three months have been “extremely tough” as he “had to save Twitter from bankruptcy” while also running Tesla and SpaceX.