Elon Musk puts $20 billion value on Twitter

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Elon Musk puts $20 billion value on TwitterThe reported valuation is less than half of the $44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter's value

Reuters

Last Updated 26 March 2023, 06:51 IST

Elon Musk. Credit: Reuters Photo

Twitter Inc CEO Elon Musk has offered the social-media company's employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.

The reported valuation is less than half of the $44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter's value.

Twitter did not immediately respond to a Reuters' emailed request for a comment.

Musk said in December that Twitter is on track to be "roughly cash flow break-even" in 2023 as top advertisers slashed their spending on the social-media platform after the billionaire' s takeover.

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(Published 26 March 2023, 06:51 IST)