Musk reckons Twitter is worth half as much as it used to be with his arrival
13:45, 27.03.2023
Author
Artur Zayonts
The social network is now worth around $20 billion.
This was reported by The Information, citing its sources.
Journalists report that Twitter CEO Elon Musk offered grant shares worth around $20 billion in a letter to the social networking site's employees.
This estimate is less than half of the $44 billion that Musk paid to acquire Twitter, indicating a drop in the platform's value.
It's worth recalling that Musk bought Twitter in October 2022 for $44bn. After that, a wave of layoffs began.
He laid off a total of about 5,000 employees and set up a "hard" work environment for those remaining.
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Artur Zayonts
Editor
at SOCPORTAL.INFO
Artur Zayonts specialises in news from the frontline. A historian by education, Arthur has always sought to bring depth and context to his journalistic work.
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