Elon Musk Twitter deal is a financial hole

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As per the Bloomberg News report, Twitter has made its first interest payment on Elon Musk’s buyout debt.

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According to reports, Twitter paid a consortium of seven banks which is led by Morgan Stanley.

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Last year Elon Musk took around $12.5 billion in debt to acquire the micro-blogging website.

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Twitter, Musk and Morgan Stanley did not responded to Reuters on the same.

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In addition to borrowing money from a group of banks, Elon Musk has sold shares of Tesla to pay for his $44 billion acquisition of Twitter.

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Since Musk acquired Twitter, the company has taken several steps, including laying off thousands of employees, pushing for a "hardcore" work culture and many more.

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Twitter has also made several changes such as $8 for blue tick and did multiple attempts to bring the brand back onto the platform.

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