Elon Musk tweeted THIS after securing Twitter deal

In the end, the Tesla CEO abandoned the borrowing scheme and made a larger financial contribution. In the end, Musk sold shares in Tesla for about $15.5 billion. In the end, the 51-year-old would personally contribute little over $27 billion in cash to the acquisition.

After securing the deal, Elon Musk posted his first tweet. In his typical style of leaving it to the readers to find out the meaning, he posted: “the bird is freed.”

Has the bird really been freed?

According to internal Twitter analysis seen by Reuters, the acquisition takes place at a time when Twitter is having trouble retaining its most active users. Since the beginning of the pandemic, heavy tweeters have been declining.

Also Read: Elon Musk fires top executives including CEO Parag Agrawal

The tweet comes as Twitter CEO Parag Agrawal was reported to be among top executives quitting the company. According to people familiar with the situation who asked to remain anonymous due to the nature of the information, Vijaya Gadde (Head of legal, policy and trust), CFO Ned Segal and Sean Edgett, who has been general counsel at Twitter since 2012, are also leaving.

Also Read: Elon Musk took bank loans to finance Twitter deal

Twitter, in Musk’s opinion, could assist in the development of his “everything app” X which, like WeChat in China, he hopes will incorporate messaging, video, payments and commerce. Twitter will incur an estimated $13 billion in debt as a result of the Musk acquisition. According to analysts, Twitter may be required to pay more than $1 billion in interest yearly.

90% of Twitter’s revenue comes from advertising, therefore the company has worked hard to create alternative revenue streams like subscriptions. However, goods like Twitter Blue have not really taken off.