Elon Musk Twitter account displayed on a phone screen and Twitter logo displayed on a screen in the background are seen in this illustration photo taken in Krakow, Poland on November 22, 2022.
Jakub Porzycki | Nurphoto | Getty Images
Twitter CEO Elon Musk said Sunday that the last few months have been “extremely tough,” but the social media company is “now trending to breakeven.” CNBC was not able to independently verify this claim.
Musk, who is also CEO of Tesla and SpaceX, said in a tweet that he has had to “save Twitter from bankruptcy” while also fulfilling his roles at his other companies.
“Wouldn’t wish that pain on anyone,” he wrote. “Twitter still has challenges, but it is now trending to breakeven if we keep at it. Public support is much appreciated!”
Twitter and Musk did not immediately respond to CNBC to a request for comment.
Since acquiring the company for $44 billion late last year, it’s been a rocky takeover for “Mr. Tweet,” as Musk recently dubbed himself. Under the billionaire’s management, Twitter has slashed headcount through mass layoffs, other terminations and changes that compelled many to resign, including the end of a work-from-home forever policy that had been put in place under former CEO Jack Dorsey.
Twitter launched — and relaunched — its updated Twitter Blue subscription service in December after Musk had pulled and delayed the service in November. The company suffered a “massive drop in revenue,” according to Musk, after advertisers paused spending on the social media platform.
The billionaire has also faced significant shareholder backlash at Tesla for being distracted, for stirring up political controversy with his strategy at Twitter, and for selling billions of dollars worth of his Tesla shares to finance his Twitter takeover.
In a tweet Sunday, a Twitter user expressed concern about how much Musk has had on his plate.
“I’m worried about me too,” Musk wrote in response.
—CNBC’s Lora Kolodny contributed to this report.
