Elon Musk reportedly has said that X is "barely breaking even" in an email to X staff. The news comes as X's competitors see rapid growth, and the banks that financed Musk's takeover prepare to sell off debt they've incurred from the deal.

Musk has tried several different ways to boost X’s profits, including making users pay for verification, something that had previously been given to users of notoriety and journalists. On Tuesday, the company’s CEO Linda Yaccarino announced a new deal with Visa for peer-to-peer payments on X.

The richest man in the world, Elon Musk, recently sent letters to the employees of X, stressing that investing in the company hardly brings any results, judging by the captions of the American media.