Elon Musk Says Twitter is Value Much less Than Half of What He Purchased It For

Elon Musk says Twitter is now value lower than half of what he purchased it for — and, when 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 e mail he despatched to remaining workers — this per the NYT, which says it received its palms on a replica. Within the inner memo, EM says Twitter is at present value $20 billion … $24 billion lower than his buy value.

Whereas that will appear abysmal, Elon truly informed his staff that — for a time — issues have been prone 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 be aware, he reportedly goes on to say that “radical modifications” he is imposed have been mandatory to save cash — together with the mass layoffs and different cost-cutting measures (i.e. auctions, and many others.). The Occasions experiences EM additionally stated Twitter must be checked out as an “inverse start-up.”

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