bought Twitter for $44 billion late last year. Elon Musk, spoke about the company’s financial situation in a new email. Twitter’s value up to $20 billion Acknowledging that he had fallen, the CEO asked for a “reverse start” from those working for the platform.
Elon Musk: Twitter is worth $20 billion
Elon Musk was on the agenda with Twitter admitting that it had become worth less than half of the amount it bought. In an email to employees about the stocks, Musk said that “there are about 4 months left to run out of money in the safe”, stating that radical changes are necessary.
He wrote that financial incentives for employees should be aligned with the company and that stock grants to employees will be reconsidered. for much less than the $44 billion it bought Twitter for. at a valuation of $20 billion He added that he has reached
TikTok, Instagram and Twitter are banned in France!
TikTok, Instagram and Twitter are banned in government agencies in France. Accordingly, it cannot be used on government devices.
Despite this setback, the Twitter CEO thinks the platform will reach a valuation of $250 billion. Stating that he sees an “open but difficult road” in front of them, Musk also stated that employees can still sell their shares.
After being bought by Musk, austerity policy was introduced on Twitter. Accordingly, only 1300 out of 7500 employees were kept in the company. It turned out that the items in the office were put up for sale and even the office rent was not paid.
shiftdelete.netTwitter also faced financial trouble. According to a report from Social Media Today, Twitter’s operating costs in the second quarter of 2022 totaled $730 million in total expenditure.
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