Elon Musk Reveals Twitter’s Current Value: Not Even Half Of $44 Billion!
According to the current value announced by Elon Musk, Twitter has lost a lot of value. The current value isn’t even half what Musk bought the company.
Twitter, the social media platform that allows users to send and interact with short posts called “tweets”, has become a popular tool where news, opinions and other content are shared in real time since its establishment in 2006. The company, which was worth $44 billion when it was acquired by Elon Musk last year, experienced a sharp decline, according to Musk’s statement. So much so that its current value is not even half of its purchased value.
According to an email seen by The Information and The New York Times, Elon Musk has valued Twitter at around $20 billion. The memo was sent to Twitter employees on Friday to announce a new stock compensation program. In the memo, Musk warned that Twitter was in an unstable financial situation and said the company had only four months left to run out of cash at some point.
Elon Musk Reveals Twitter’s Current Value: Not Even Half Of $44 Billion!
Elon Musk Claims Its Value Could Exceed to $250 Billion
Musk also said he sees a “clear but difficult path” to a valuation of $250 billion that will make existing stock donations ten times more valuable in the future. Musk claims that this policy will allow Twitter employees to sell stock every six months and give employees “liquid stock,” while protecting them from the “price chaos” brought on by stocks in a public company.
The company’s daily revenue is reportedly down 40% from a year ago at the start of 2023, with more than 500 top advertising partners halting their spending on the platform. The revenue models Musk has wrestled with for Twitter since his takeover don’t seem close to making up for the financial setback.
Elon Musk Reveals Twitter’s Current Value: Not Even Half Of $44 Billion!
