Musk took the drastic action of refusing to pay back payments after he bought the social network. Many of the company’s executives racked up hundreds of thousands of dollars in travel invoices that Twitter agreed to cover. However, Musk claimed that these were the responsibility of the previous administration.
He plans to default on these repayments as he cuts costs at the company. But this isn’t a wise business strategy because it reduces trust and good feelings between Musk and other businesses. Furthermore, Musk is blocking corporate credit cards as he pursues a ruthless course of action (via Reuters).