After Elon Musk took over Twitter, 50% decrease in Twitter earnings revealed.
Elon Musk bought Twitter in April 2022 for $44 billion. And he takes over its management in October 2022.
According to the report, only on January 17, 2023, Twitter’s earnings decreased by 40% compared to January 17, 2022.
The news agency cited Twitter employees as saying that 500 multinational brands and companies stop advertising on Twitter after Elon Musk takes over management of the platform.
Elon Musk also introduced the service ‘Twitter Blue‘ to give blue ticks in exchange for money to increase Twitter’s earnings.
However, despite this, there is a 50% decrease in Twitter earnings.
According to the above 500 companies and brands, Elon Musk made the platform controversial.
He also allowed hateful posts to be shared in the name of freedom of expression.
While twitter also violated human rights by firing employees.
Apart from this, the feature of giving blue tick on the platform for money was also criticized. And said that people and institutions spreading hate through this process will also be counted in verified accounts.
The report stated that the annual earnings of Twitter in 2021 was 5 billion 10 million dollars. Which decreased in 2022.
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.