Business
Elon Musk Values Twitter At $20 Billion, Less Than Half Its Purchase Price
Elon Musk
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.
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