Photo for illustrative purposes only. ARCHIVE

Elon Musk has dropped yet another bombshell: Twitter may go bankrupt. He made this shocking statement two weeks after purchasing the social media giant for $44 million. The company could lose billions of dollars next year. Musk claimed that the company lost over $4 million per day as advertisers fled after he took over as CEO. Following the transaction, Twitter now owes $13 billion in loans. Musk warned that if Twitter does not increase its subscription revenue, it will be unable to survive the economic downturn. The news comes as top executives leave the company. Musk intends to transform the platform into a force for truth and to combat fake accounts. Musk introduced the $8 monthly Twitter Blue subscription service and a separate grey "official" badge for select accounts, but he quickly dropped the grey label. Following the launch, fake accounts proliferated as users attempted to impersonate celebrities and politicians such as NBA star LeBron James and former British Prime Minister Tony Blair. Musk sold $3.95 billion in stock in his company Tesla. Many people were concerned about the impact of his Twitter purchase on the world's most valuable automaker. According to an attorney on the company's privacy team, Musk is only concerned with how to profit from his users. He has little regard for human rights activists or dissidents. Musk has terminated remote work at Twitter for 50% of the workforce. He warned them the road ahead would be difficult and require 'intense work' to succeed. Users are already shifting their allegiances to other platforms. Mastodon, for example, has quickly risen to prominence. BKM/ Expat Media
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