<h5>When did the crisis begin?</h5>  <p>On 28th October 2022, Elon Musk, the world’s richest man, took control of Twitter. Soon after, he fired many of the company’s top executives, all board members and 3,700 employees. He did this because Twitter was making losses of more than $4 million per day. </p>
<p>To ensure Twitter starts making money, he brought in a system that allowed users to verify (the blue tick mark that can be seen beside the names of celebrities, big companies, etc.) their accounts for $8 per month. </p>
<p>Later, Twitter asked dozens of the workers who were fired to return to work, either because they were accidentally fired or because their skills were required by the company. They were also asked to work twelve hours a day and seven days a week.
</p> <h5>What is the current status?</h5>  <p>Until now, Twitter has been making money by charging brands who want to advertise their products on its platform. However, companies are now cautious about advertising on Twitter due to Elon Musk’s recent actions and statements. </p>
<p>Several advertisers such as General Motors Company (GM), General Mills Inc. (GIS), etc., have stopped advertising on Twitter.</p>
<p>The new Twitter verification system proposed by Musk also backfired. It resulted in people verifying fake accounts and making inappropriate statements. For example, verified fake accounts of companies and individuals made statements that damaged their reputations. </p> <h5>How bad is Twitter’s money problem?</h5>  <p>In a meeting at Twitter’s headquarters in San Francisco, Elon Musk stated that Twitter must earn more money than it spends. If that did not happen, the company may go bankrupt.
</p> <h5>What did we learn from this article?</h5>  <p>Elon Musk’s management style and reckless decisions have been criticised a lot. These have quickly overshadowed his promises to improve Twitter. </p>
<p>This shows us that even the world’s richest man is not perfect and that we all have something to learn. </p>
<p>What do you think of Elon Musk’s actions? Tell us in the comments section below.</p>

Twitter, a popular American social media platform, was recently purchased by Elon Musk. The company is currently going through an internal crisis due to some of his policies.

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