Elon Musk calls X’s revenue ‘unimpressive,’ warns employees of ‘very dire situation’

While Elon Musk is often publicly seen praising how X (formerly Twitter) has grown since his takeover of the company, the billionaire in an email to his employees has revealed a totally different side of the equation. 

Musk told X employees in an email (via The Wall Street Journal) that the company is in “a very dire situation from a revenue standpoint”. The billionaire went on to add,  “Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even,”

“Over the last few months, we’ve witnessed the power of X in shaping national conversations and outcomes…We are also seeing other platforms begin to adopt our commitment to free speech and unbiased truth,” Musk added in the email. 

Musk’s struggles in getting X on track: 

Musk had bought the social media platform then called Twitter in a $44 billion deal in late 2022. Since his takeover, Musk brought in a number of changes to the company including removal of a free verified programme, introducing a paid membership and even changing its name to X. 

Musk also reinstated most of the users banned during Twitter days including Donald Trump and went on to campaign heavily for the Republican candidate in the 2024 US Presidential election. Musk’s radical changes and a sudden rightward shift for the platform saw its advertisement revenue decline radically but the company’s financials have improved steadily since then, WSJ reported.