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Elon Musk says Twitter is “trending to breakeven” after bankruptcy warnings

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Twitter is now "trending to breakeven" according to owner Elon Musk.

The billionaire also claimed he saved the social media giant from "bankruptcy."

In a recent tweet, Musk said the past two months were “extremely tough.” 

He added that while rescuing the social media platform, he had to fulfill the responsibilities at his two other companies, Tesla and SpaceX.

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Mr. Musk said: “Wouldn’t wish that pain on anyone.”

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In a follow-up tweet, Musk said daily user numbers and user minutes are "still strong."

Musk bought Twitter last October in a $44 billion deal, having complete control of the firm for $54.20 a share. 

Shortly after the takeover he broke the Guinness World Record as the first person to have the largest loss of personal fortune.

The Twitter buyout has made him sell large blocks of Tesla shares, which hurt the stock.

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His wealth plummeted after that, eventually entering the record book for a $200 billion loss.

Since the purchase, Musk has publicly and frequently addressed the risk of Twitter going bankrupt.

Nonetheless, the platform paid its first interest payment on the $12.5 billion in debt used by the company's new owner to take it private last year.

It raised confidence in his capability to avoid bankruptcy in the foreseeable future.

Source: Fortune

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