Struggling to pay rent, Musk starts auctioning the Twitter Bird, a coffee machine

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- Musk's desperate attempt to save Twitter!

- Company's ad revenue drops 40 percent after Musk takes over Twitter: Advertisers flee

- Companies like GM-Volkswagen stop advertising: Musk blames activism for ad decline

Washington: Billionaire Elon Musk is finding it expensive to make Twitter profitable. The company is struggling to pay rent for its offices and is saddled with debt. After Musk bought the company for $44 billion last year, he has been unable to meet the lease on its headquarters in San Francisco and is struggling to pay office rent. The company has failed to negotiate a new lease with the owner. Now this amount is in millions of dollars.

Following this, Musk has started the auction of Twitter bird, coffee machine etc. Not to mention, Twitter's ad revenue has dropped 40 percent since Musk took over. Advertisers are fleeing Twitter.

Twitter has since hired Heritage Global Partners, which will auction the belongings from Twitter's headquarters. Its auction page is titled Online Auction Sale Featuring Surplus Corporate Office Assets of Twitter.

He expects the most sales to come from Twitter's bird symbol. Apart from this, sales are expected from office supplies like coffee machines, kitchen equipment, furniture etc.

The bidding price of the four-foot Twitter bird is currently $20,500 or Rs 16,70,000. This shows how the company is faring under Musk's leadership. After Musk took over Twitter, companies like General Motors and Volkswagen stopped advertising on Twitter. Musk has blamed activism for the decline in revenue. In addition, Musk has started trying to find new revenue streams. This includes placing merchandise and charging for exclusive content.

With Musk taking over Twitter, corporate advertisers have begun leaving the company, laying off thousands of employees. Even if Musk announces his resignation as CEO following this, people believe that Musk will remain in control. So there will be no change in Twitter's muscular effort.

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