Business
Elon Musk Values Twitter At $20 Billion, Less Than Half Its Purchase Price
Swarajya Staff
Mar 28, 2023, 06:06 PM | Updated 06:06 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
According to an internal email Elon Musk has reportedly valued Twitter at $20 billion, The Information reported.
This value is less than half the $44 billion Musk paid for the social media platform just five months ago.
The email, which was sent to employees, discussed a new stock compensation program at Twitter and the allocation of shares to employees of X Holdings, Twitter's parent company since Musk's acquisition in late October.
Under the compensation plan, Twitter's value is estimated at $20 billion, slightly higher than the publicly traded companies Snapchat's parent company Snap ($18.2 billion) and Pinterest ($18.7 billion).
Musk also stated that Twitter would allow its employees to cash in shares every six months.
When contacted by AFP for comment, Twitter's communications department responded with an automatic message in the form of a poop emoji.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.