Twitter is reportedly valued at less than half of what Elon Musk paid to take over the company in October 2022. In an email to employees at Twitter, Musk reportedly estimated the company's valuation at $20 billion; while he had paid $44 billion only about 6 months ago.
The decreasing valuation of the company was reported by the Platformer and the Information, based on a leaked memo by Musk to some employees of the company offering stock options.
NEW: Elon Musk sent Twitter employees an email about the state of Twitter 2.0. He acknowledged the company has been through a period of radical change but said the changes were necessary… 1/— Zoë Schiffer (@ZoeSchiffer) March 25, 2023
Elon Musk seems to be softening up to remaining employees at Twitter by offering stock options after a wave of layoffs, resignations, and an overall toxic working environment.
LOL that's absolutely ludicrous, about six TIMES what he paid for it. And he tried as hard as he could to squirm out that deal. By now there's not even a path to a $20 billion valuation.— J.M. Malyon (@JMMalyon) March 25, 2023
In the tech industry these awards are given as stock options that vest over several years to make you stay there. In a company that isn’t making money, it’s worthless. They can’t spend it for 4 years and by then Twitter might be bankrupt 🤷♀️it’s not real money yet— The Trauma Informed Nurse (@informed_nurse) March 25, 2023
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Any individual person’s Twitter account affiliated with a verified organization is automatically verified https://t.co/5j6gx6UKHm— Elon Musk (@elonmusk) March 24, 2023
Surrounded by this atmosphere, it needs to be seen who will take up Elon Musk's generous offer of stock options.