Musk warns of Twitter bankruptcy as more execs quit

STORY: Could Twitter go bankrupt?

The platform’s new owner Elon Musk told staff on a Thursday call he could not rule that possibility out, according to Bloomberg.

While tech industry news site The Information reported that Musk warned Twitter may lose billions of dollars next year.

This comes two weeks after Musk took it over for $44 billion - a deal that credit experts say has left Twitter's finances in a precarious position.

The reports capped a chaotic day that included exits of senior executives who had been viewed as future leaders, and a warning from a U.S regulator.

According to Reuters sources, Twitter’s head of safety and integrity, head of global ad sales, chief privacy officer and chief compliance officer all resigned on Thursday.

While Chief Security Officer Lea Kissner tweeted that they had quit.

The U.S. Federal Trade Commission said it was watching Twitter with "deep concern" after the privacy and compliance officers’ exit.

The resignations potentially put Twitter at risk of violating regulatory orders.

Twitter did not respond to requests for comment on a potential bankruptcy, the FTC warning, or the departures.

Musk has said the social media firm was losing more than $4 million a day.

That was in large part because advertisers began fleeing Twitter once he took over in late October.

The world’s richest person has since saddled Twitter with $13 billion in debt.

It faces interest payments totaling close to $1.2 billion in the next 12 months.

That exceeds Twitter's most recently disclosed cash flow, which amounted to $1.1 billion as of the end of June.