Twitter’s new boss Elon Musk has told employees he’s not sure what the company’s run-rate (a longer-term projection of performance based on current revenue) is and that bankruptcy is not out of the question, the executive editor of technology news and communications service Platformer tweeted on Thursday.
Elon Musk
Elon Musk is attending an all-employee meeting at Twitter, people familiar with the situation said. He told employees that he recently sold Tesla stock to “save Twitter. Since Elon Musk took over Twitter, he has laid off about half of his staff. Part of the purpose of his staff meeting was to motivate the remaining employees to work harder.
To fund the deal to take Twitter private, Elon Musk sold at least $3.95 billion in Tesla stock last week. He sold another 19.5 million shares of Tesla stock, according to a filing released Tuesday by the U.S. Securities and Exchange Commission. Before that, he also sold more than $8 billion worth of Tesla stock in April and about $7 billion worth of Tesla stock in August.
