Elon Musk puts $20 billion value on Twitter: Report

The reported valuation is less than half of the $44 billion that the CEO paid to acquire the social media platform

By Reuters

  • Follow us on
  • google-news
  • whatsapp
  • telegram

 

Photo: Reuters file
Photo: Reuters file

Published: Sun 26 Mar 2023, 10:36 AM

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.


ALSO READ:


More news from Business