Elon Musk said in an email to Twitter employees on Friday that the platform’s current value is $20 billion. The famous businessman bought Twitter for $44 billion last October.
Once the richest person in the world Elon MuskWe are used to the frequent presence of Tesla, SpaceX, Neuralink -sometimes Boring Company-. However, the famous businessman has been on the agenda for the last year with Twitter, where he made forty somersaults to buy and then not to buy. It seems that Elon Musk currently sees Twitter as less valuable than the company he tried to buy a year ago.
According to the news shared by The New York Times, Elon Musk sent an email to Twitter employees last Friday and said that the company’s value 20 billion dollars said that. Considering that Musk paid $44 billion to buy the platform just six months ago, we can say that the loss of value – at least in the eyes of Elon Musk – is more than half.
“4 months left in Twitter’s safe”
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Elon Musk sent the email in question to announce a new stock program. According to Musk, Twitter is in a financially unstable state with only 4 months left until the vault is empty. Musk to save the company from bankruptcy and get things back in order mass dismissal and that radical changes, such as cutting costs, are necessary.
With the acquisition of Twitter by Musk, the obligation to publicly share the company’s financial books has disappeared. Naturally, there is no transparency about the financial situation of the company. However, after Musk took over the platform, advertisers moved away from the platform, the company suffered serious loss of revenue, and ‘danger of bankruptcy’ We know from Musk’s statements that there is
Twitter’s value is about to drop below even Snapchat
Musk did not respond to The New York Times’ request for comment on the matter. However, if Twitter is valued at $20 billion, as Musk said, the situation may be dire. Although not very popular in Turkey, Snapchat, which is on the rise again worldwide, has a value of 18 billion dollars and the number of daily users has reached 375 million.
Twitter before Elon Musk bought it 237 million owned by the user. Of course, the structures of Twitter and Snapchat are completely different from each other, but it seems that Elon Musk needs to make really radical and ‘positive’ changes in order to at least bring Twitter to ‘the value it was when it was bought’.
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