Elon Musk has borrowed huge sums of money from a bank to buy Twitter.
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He has hinted that he may have to lay off workers in the end to repay the loan.
A source close to him said that he had recently informed lenders that the salaries of some of the company’s top staff could be reduced in order to reduce costs.
Elon Musk, the American billionaire, spent 4.4 billion to buy Twitter.
It is learned that most of the huge sums came from bank loans. He has borrowed a total of 2.5 billion to own a microblogging site.
According to the source, Musk also wants to add some new features to Twitter to increase revenue. If a tweet is viral or if an outside organization wants to quote a tweet, they may have to pay for it. Source: Reuters.
However, Mask does not want to rely on Twitter for advertising. In the meantime, a premium service called ‘Twitter Blue’ has been launched on Twitter. There are rumors that this service wants to make Mask stronger. It is alleged that the ambassador provided the information to Hussein. However, this is not possible at present due to legal obligations
Mask became the owner of Twitter on April 25. According to sources, he had earlier in a meeting with the officials of the lending agencies on April 14 to give possible directions for the repayment of the loan. That’s where Musk hints at layoffs and pay cuts.
Out of a total debt of 2.5 billion, Musk has taken Rs 1.3 billion by showing ownership of Twitter. He has borrowed the remaining 1.25 billion by showing his stake in Tesla. As a result, the ‘impact’ of the acquisition is likely to be felt in Tesla as well.
