After having to prevent Twitter Inc. from “bankruptcy,” Elon Musk claims that the company is “trending to breakeven.”
The last three months, according to the billionaire, have been “very stressful.”
He had to juggle duties at two other businesses he manages, Tesla Inc. and SpaceX, while also trying to save the social networking site.
Musk stated, “Wouldn’t wish that pain on anyone.”
In a subsequent tweet, Musk noted that the daily user count and user minutes are “still strong.”
Musk acquired control of Twitter last year through a $44 billion acquisition that cost $54.20 per share, giving him the firm.
According to the Bloomberg Billionaire’s Index, he also made history last year when he lost $200 billion of his fortune.
Since the buyout, Musk has openly and regularly discussed the likelihood that Twitter may go bankrupt.
The platform did, however, make its first interest payment on the $12.5 billion in debt that the new owner used to take it private last year, boosting confidence in his capacity to avoid bankruptcy in the near future.
The billionaire has received a lot of criticism from Tesla shareholders for being preoccupied, using Tesla employees to help him at Twitter, stirring up political issues there, and selling shares in his own company for billions of dollars to fund his takeover of Twitter.
One Twitter user voiced concern about how much Musk had on his plate in a message on Sunday.
Musk said, “I’m worried about me too.”