Elon Musk Will Bring a $20 Billion Value to Twitter: Everything You Need to Know
Twitter Inc. CEO Elon Musk has offered the social media company’s employees stock grants worth nearly $20 billion, a report said Saturday, citing a person familiar with an email Musk sent to Twitter staff.
The reported valuation is less than half of the $44 billion Musk paid to acquire the social media platform, suggesting a decline in Twitter’s value.
Twitter did not immediately respond to an emailed request for comment from Reuters.
Musk said in December that Twitter was on track to reach “roughly cash flow profitability” in 2023, as top advertisers cut spending on the social media platform following the billionaire’s takeover.
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