Elon Musk auctioned Twitter Headquarters items worth thousands of dollars to pay debts. According to a Bloomberg report, Twitter owes about $13b.
Elon Musk had bought the micro-blogging site for $44b and went into action to bring the company out of debt.
ALSO READ: Guinness World Records: Elon Musk Now World’s Billionaire With ‘Worst Loss’ In History
One of the ways Musk tried to do that was laying off a chunk of the company’s staff, skipping rent payments, and slashing employee benefits.
However, despite these measures, the company remains in huge debts which the company need to start paying by January 27, 2023.
Consequently, Elon Musk has ordered an Auction of, especially, Twitter assets which the company no longer uses, especially items that would no longer be used by retrenched staff members.
The auction ended on Wednesday with Twitter auctioning 631 items.
The auction took place online on the auction website, Heritage Global Partners.
Discoveries on buyers’ interests showed that people declared more interest on unusual items while everyday items easily found in other offices sold for lesser prices.
Among the items Elon Musk has auctioned included kitchen equipment, furniture, electronics, and memorabilia.
Twitter bird statue sold for approximately $100,000 while the lowest-priced item sold for $150.
Also, one of the unusual Twitter items – the Twitter bird neon light- sold for $40,000.
Equally, a 68 packs of Belkin power strips sold for $1,000.
Other items Elon Musk auctioned were espresso machines, ergonomically correct desks, televisions, bicycle-powered charging stations, pizza ovens and a decorative planter shaped like an “@” sign.
Those who made bids for the items during the auction can pickup the items next week
Meanwhile, Heritage Global Partners’ President, Nick Dove told Fortune last month that the auction had “nothing” to do with Twitter’s dire finances.
“They’ve sold for $44 billion, and we’re selling a couple of chairs and desks and computers,” Dove told Fortune.
“So, if anyone genuinely thinks that the revenue from selling a couple computers and chairs will pay for the mountain there, then they’re a moron.”
Found this interesting? Share!
and then