Elon Musk jokes Twitter is 'world's largest non-profit'
Musk has been working to make Twitter profitable since acquiring it for $44B in October
'The Rubin Report' host Dave Rubin describes what he saw during his 48-hour visit with Elon Musk at Twitter's San Francisco headquarters.
New Twitter owner and CEO Elon Musk on Tuesday poked fun at himself and the social media giant he says was losing millions of dollars a day when he acquired it last fall, referring to the platform as "the world's largest non-profit."
"Say what you want about me," the multi-billionaire tweeted, "but I acquired the world’s largest non-profit for $44B lol."
Musk has made it no secret that he has faced significant challenges in trying to turn the company around.
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Just a week after taking over at the helm of Twitter in late October, Musk lamented the company's "massive drop in revenue," which he attributed to "activist groups pressuring advertisers."
Tesla CEO Elon Musk smiles as he addresses guests at the Offshore Northern Seas 2022 (ONS) meeting in Stavanger, Norway on August 29, 2022. Musk joked Tuesday that in purchasing Twitter he acquired the "world's largest non-profit." ((Photo by CARINA JOHANSEN/NTB/AFP via Getty Images) / Getty Images)
Since then, Musk has made a series of controversial changes to the platform, including cutting about half of Twitter's staff, rolling out a revamped Twitter Blue subscription service, and even auctioning off memorabilia from the company's San Francisco headquarters.
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Musk, who is still CEO at SpaceX and Tesla, defended the Twitter layoffs in November by saying that the company was losing $4 million a day.
Twitter headquarters is seen in San Francisco, California, United States on October 27, 2021. Elon Musk has implemented a series of changes at the platform since acquiring the company in October. (Tayfun Coskun/Anadolu Agency via Getty Images / Getty Images)
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A few weeks ago, he tweeted that the past three months have been "extremely tough" as he "had to save Twitter from bankruptcy" while also running Tesla and SpaceX.