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In the interview, Musk said taking over Twitter has been painful, and that he has been “under constant attack”.
But the billionaire defended carrying out mass sackings of staff following the takeover.
“The issue is like the company’s going to go bankrupt if we do not cut costs immediately,” he said.
“This is not a caring, uncaring situation. It’s like if the whole ship sinks then nobody’s got a job.
“What would you do? If you’ve four months to live, a 120 days, in a hundred and 20 days you’re dead, so what do you want to do?
Musk has confirmed he will change the label on the BBC’s Twitter profile from “government-funded media” to “publicly-funded”.
It comes after the BBC contacted Twitter to object that its main BBC account had been labelled “government-funded”.
Twitter’s website defined “government-funded media” as an outlet where there may be “varying degrees of government involvement over editorial content”.
In an interview with our correspondent James Clayton, Musk said he always wanted to be as “truthful and accurate as possible”.
He said: “I think we’re adjusting the label to be publicly funded, which I think is not too objectionable. We’re trying to be accurate.”
He also confirmed he would change the label to “publicly-funded” for US radio broadcaster NPR.
Musk added he had the “utmost respect” for the BBC.
He previously described the broadcaster as “among the least biased” news organisations.
Last week speaking on the matter, the BBC said: “The BBC is, and always has been, independent. We are funded by the British public through the licence fee.”
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