After Elon Musk took over the management of Twitter, the platform's earnings have been revealed to have dropped by almost fifty percent.
Elon Musk bought Twitter for $44 billion in April 2022 and took over its management in October 2022. and announced dozens of changes while he also fired almost half of the employees.
Elon Musk used money to increase Twitter's earnings. Awad had also introduced the blue ticking service 'Twitter Blue' on a large scale, but despite this, the platform's earnings have dropped by almost half a percent.
News A look at Twitter's earnings according to the news agency 'Reuters'
. The experts have claimed in their latest report that the earnings of the platform decreased by 40% during one year. 40 percent less than 17 January 2022 E.
The news agency, citing Twitter employees, said that after Elon Musk took over the management of the platform, 500 national brands and companies started advertising on Twitter.
The report stated that according to the above 500 companies and brands, Elon Musk has made the platform controversial, he hates in the name of freedom of expression. Allowed sharing of provocative posts while they also violated human rights by firing employees. He also criticized the feature of giving a blue tick and said that people and organizations that spread hatred through this process will also be counted in the verified accounts.
'The Guardian'
said that Twitter Among the 500 companies and brands that don't advertise, are pharmaceutical company Pfizer and Audi.
Companies are concerned about Elon Musk's takeover of Twitter.
The report stated that in 2021, Twitter's annual revenue was 5 billion 10 million dollars, which decreased in 2022.
According to the newspaper, Elon Musk has also spoken several times in the past few weeks that Twitter is facing a shortage of money, but the company will not go bankrupt. )
However, the report said that if this situation continues, Twitter may go bankrupt or Elon Musk may have to save Twitter by selling shares of other companies.
There was no immediate reaction from Twitter executives and Elon Musk to the latest reports of a 40 percent jump in Twitter earnings.