Elon Musk is applying his masterful cost cutting, he did at Twitter, to our US Government.
How do we pair him up with a guy who went bankrupt 5 times to solve the US debt problems.
CRAZY!!!!!!!!!!!!!
How do we pair him up with a guy who went bankrupt 5 times to solve the US debt problems.
CRAZY!!!!!!!!!!!!!
- In September 2024, the Washington Post reported that the overall stake of Musk and his partners has lost $24 billion in value.
- The brand value of Twitter has also declined. In 2022, Brand Finance valued Twitter at $5.7 billion, but by 2024, that value had fallen to $673.3 million.
- In 2024, X earned about $1.25 billion in earnings before interest, taxes, depreciation, and amortization. Interest alone, in 2024, was 1.3 billion.
- Revenue
In 2023, X's revenue was $3.4 billion, a 22% decline from 2022. This was due in part to a sharp drop in advertising revenue.
- Debt
X has a large debt burden. Some of the banks that loaned Musk money to buy Twitter are looking to sell that debt.
- User trust
Musk's controversial changes to the platform, including his "free speech" approach, have caused trust issues for users and advertisers.