Musk reckons Twitter is worth half as much as it used to be with his arrival

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13:45, 27.03.2023

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

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.