'Bankruptcies Need to Happen': Elon Musk Sounds Off on Potential Economic Recession

Musk is speaking out on the potential of an economic recession, and he isn't holding back.

Kathy Hutchins | Shutterstock

The billionaire, who is currently in the midst of a $44 billion acquisition of Twitter, was asked by one of his followers if he thought the U.S. was headed towards a recession in the near future.

Musk said it was a good thing for the workforce that he believed a recession was imminent.

Parag Agrawal gives an update on the Musk transaction.

It has been raining money on fools for a long time. The CEO of the company wrote bluntly that some bankruptcies need to happen. It was a rude awakening inbound!

Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen.

Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!

— Elon Musk (@elonmusk) May 27, 2022

One of Musk's 95.3 million followers asked a follow up question about how long the billionaire expected the recession to last, to which Musk gave a surprising and not so positive response.

He said that companies that are inherently negative cash flow need to die.

For some uplifting pre-weekend banter, how about that?

Jack Dorsey Breaks Silence on Musk takeover: I trust his mission to extend the light of consciousness.

Musk stated last week that his bid to purchase Twitter was on hold until he was able to show proof that only 5% of users were bots.

The annual shareholder meeting that took place on Wednesday led investors to believe that the deal was in fact proceeding, though he did not directly address the pending acquisition in further detail.

The CEO said that they are working through the transaction process. Even as we work toward closing this transaction, our teams and I remain focused on the important work we do every day to serve the public conversation.

As of early Friday 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266 800-381-0266

• James Dyson created over 5000 versions of a failed product. His Tenacity shows a secret of entrepreneurship.

• There are 7 ways your business can honor Memorial Day.

• She launched an intimate-apparel line that goes beyond buzzwords after her breast implants left her with disabling symptoms.

• The kids in the Hall say TikTok is the new punk rock.

• The founder says he is not a diversity quota.

• Memorial Day is a time for remembrance, but what about the mattress sales?

• The launch of a game-changing NFT platform was announced by Pharrell Williams.