From The Intercept: Twitter is a crummy business. It's only been profitable in 2 years: 2018 & 2019. In 2020 it lost over $1 billion, rebounding to lose a mere $222 million in 2021.
Musk’s deal to buy Twitter involved taking out $12.5 billion in loans, which means Twitter will have to come up with an additional $1 billion a year to service that debt.
Takeaway: Like Trump's presidential victory, Musk's Twitter "win" was something he didn't actually want to happen.
@esaeger
I thought musk was using the Twitter deal to provide a cover for him withdrawing so much stock from Tesla- because he knew the price was going down- but needed a cover reason to get away with it. then he couldn't wriggle out- and ended up with the Saudis (and China?)
@QueenOfEverything - Yes, somebody just posted the below piece about his Saudi partners. Odd, being that he wasn't too keen on the Saudis after they murdered Khashoggi in cold blood.
Tesla's got serious EV competition from the Nissan Leaf ($27,400 as opposed to $46,990 for his lowest-end Tesla Model 3) and others.
I think he's a giant moronic child and will eventually bankrupt himself. YMMV (pardon the pun).
https://www.motherjones.com/politics/2022/10/elon-musk-free-speech-absolutist-is-silent-about-his-saudi-partners/