Elon Musk reportedly values Twitter at $20 billion
Elon Musk values Twitter at about $20 billion, according to an email seen by The Information and The New York Times. Musk shared the valuation, a significant drop from the $44 billion he paid to buy the company last fall, in a memo he sent to Twitter employees on Friday announcing a new stock compensation program. The billionaire reportedly warned Twitter’s significantly diminished workforce that the website was still in a precarious financial position. “Twitter is being reshaped rapidly,” he wrote, adding the company had, at one point, been four months away from running out of cash.
Comp increases will be based on X Corp stock. Current grants are based on a $20b valuation. Musk says he sees a “clear but difficult path” to $250 billion valuation which would mean current grants could 10x. 3/
— Zoë Schiffer (@ZoeSchiffer) March 25, 2023
According to Platformer’s Zoë Schiffer, Musk additionally told employees he sees a “clear but difficult path” to a $250 billion valuation, a hypothetical outcome that would make the company’s current stock grants worth 10 times as much …read more
