'Painful and not fun at all': Elon Musk opens up about his experience of owning Twitter

Elon Musk, the CEO of Tesla and SpaceX, recently spoke about his experience of running Twitter in an interview with the BBC. He revealed that he only bought the platform because he felt he had to, despite being aware of its importance as a communication tool. Musk described his time at Twitter as "quite painful" and "a rollercoaster," reflecting the challenges he has faced since acquiring the company for $44 billion in October.

Despite the decline in advertising revenue and other obstacles, Musk remains committed to improving Twitter and maximizing its potential as a platform for social interaction and communication. During the interview, he emphasized that Twitter's goal is to become the most accurate platform possible. When asked about the lack of policing on the platform, he acknowledged that no system is perfect, but emphasized his mission to make Twitter as truthful as possible.

The interview was broadcasted live on Twitter Spaces, a feature that allows users to create and join audio chat rooms. The event attracted over 3 million listeners.

How Musk funded the Twitter takeover?

Musk committed to providing a total of $46.5 billion, comprising of equity and debt financing, to cover the acquisition cost of $44 billion and the closing expenses, according to Reuters.

Bank of America and Morgan Stanley were among the banks that pledged to provide $13 billion in debt financing. Experts told Reuters, the bank's commitments to the deal were strong and restrictive, which means that they had limited flexibility to back out of the agreement despite the possibility of incurring substantial losses.

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