FILE PHOTO: An image of Elon Musk is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration
NEW YORK (Reuters) - Elon Musk's revelation that Twitter has suffered a "massive" revenue drop since he took over 10 days ago underscores the precarious nature of the social media company's finances after he saddled it with $13 billion in debt, credit experts say.
Musk tweeted on Friday that Twitter was losing more than $4 million a day, largely because advertisers started fleeing once he took over. He has blamed civil rights activists pressuring advertisers, though many in the advertising industry say his tweets spreading conspiracy theories have contributed.
