Elon Musk Says Twitter is Worth Less Than Half of What He Bought It For

Elon Musk says Twitter is now value lower than half of what he purchased it for — and, should you’ll recall, that was like $44 billion … so, yeah, a BIG drop-off certainly.

The Chief Twit made the brand new valuation in a company-wide electronic mail he despatched to remaining staff — this per the NYT, which says it acquired its fingers on a replica. In the inner memo, EM says Twitter is at the moment value $20 billion … $24 billion lower than his buy value.

While which will appear abysmal, Elon truly advised his employees that — for a time — issues had been susceptible to being a lot worse after he took the reins … explaining Twitter was 4 months away from working out of cash and going bankrupt at one level over the previous a number of months.

In his notice, he reportedly goes on to say that “radical adjustments” he is imposed had been crucial to save cash — together with the mass layoffs and different cost-cutting measures (i.e. auctions, and so on.). The Times experiences EM additionally stated Twitter ought to be checked out as an “inverse start-up.”

Now, as for why he was spilling these deets to the Twitter fam … the Times says he was explaining their new inventory compensation package deal. Basically, Twitter staff will obtain inventory grants for the holding firm he used to purchase Twitter — the “X Corporation” — which can function beneath the present $20B estimate. Workers will then have the ability to promote and money in on their privately held inventory each six months. His different firm, SpaceX, acts equally.