Delhi: There is a saying that the blind got quail, perhaps the same situation is happening with Twitter owner Elon Musk. After buying Twitter, there has been a huge decline in the revenue of the micro-blogging site. Twitter’s revenue is seeing a year-on-year decline. Twitter’s revenue has come down by 40%. Apart from this, the first mega interest payment is yet to be made to Tesla CEO Elon Musk by the end of January. Let us tell you that Elon Musk paid 13 billion to buy Twitter. Dollar loan, whose interest is yet to be paid. Before this the interest is going to be paid at the end of January. In such a situation, there is a possibility that Elon Musk can sell Tesla shares, so that the loan interest can be reduced.
Twitter’s business rests on advertisements
If reports of a decline in Twitter’s revenue are to be believed, then the new Twitter Blue subscription has also failed to fill the coffers of the company. Twitter charges $8 per month for its premium membership, which provides users with a range of features. The blue verification checkmark is now being given to users only when they pay the money. Only after buying Twitter, Elon Musk changed some of its rules. Along with this, all the big brands have left Twitter, due to which Twitter suffered a loss in advertising. Although Elon Musk’s many efforts brought some brands back and Twitter’s business rests on advertisements.
Tiny scoop: We learned today that Twitter’s revenue is down 40 percent year over year (& Musk’s first giant interest payment on the company is due at the end of the month): https://t.co/IH7lJiQ0Dw
— Zoë Schiffer (@ZoeSchiffer) January 18, 2023
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Loss of 200 billion dollars in a year
Elon Musk was the richest person in the world from November 2021 to 2022, but now he has lost his position and remains at number two with a net worth of $137 billion. Twitter CEO Elon Musk has suffered a loss of $ 200 billion in his wealth during a year. In November 2021, Elon Musk’s assets were $ 340 billion, but by the end of the year 2022, there was a huge decline in his assets and Musk lost $ 200 billion in assets.