In an email to employees, Musk said the company is valued at $20 billion just months after he purchased it for double that.
Elon Musk wrote in a company email on Friday that he values Twitter at about $20 billion, less than half what he paid for it. “Twitter is being reshaped rapidly,” Musk wrote in the email, referring to the company as an “inverse start up” and warning employees of more layoffs and budget cuts.
Musk purchased Twitter for $44 billion in October following a back-and-forth legal battle after he tried to back out of the deal. In his email, Musk said employees will receive stock in X Corporation, the holding company he used to buy Twitter. He also told employees he thinks the company could be worth $250 billion in the future, despite its bumpy journey in the months since he took over.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk values Twitter '$20 billion' after $44 billion acquisition in 2022Elon Musk, the CEO of Twitter, has reportedly issued stock grants to the company's staff at a valuation of close to $20 billion, according to multiple media reports on Saturday.
Read more »
Elon Musk puts $20 billion value on Twitter, The Information reportsTwitter Inc CEO Elon Musk has offered the social-media company's employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.
Read more »
Elon Musk reportedly halves Twitter’s valuation in internal memoMusk reportedly put a $20 billion valuation on Twitter.
Read more »
Elon Musk values Twitter at less than half of $44B price tag in offer to employeesBillionaire Twitter CEO Elon Musk offered his employees stock grants that valued the company at $20 billion last week, less than half the $44 billion he bough it for.
Read more »
The Best Sunglasses On Amazon, From Under-$20 To DesignerNo shade here — we've uncovered the most stylish sunglasses Amazon has to offer.
Read more »