According to a report published by the Information on Saturday, citing a source familiar with an email that Twitter Inc. CEO Elon Musk wrote to Twitter staff, Musk has given stock grants to Twitter employees at a valuation of roughly $20 billion. The social media firm in question is Twitter.
A decrease in the value of Twitter is shown by the fact that its rumored valuation is less than half of the $44 billion that Elon Musk paid to acquire the social media network.
A request for a remark that was emailed to Twitter by Reuters was not immediately met with a response.
Musk stated in December that Twitter is on course to be “approximately cash flow break-even” in 2023, despite the fact that major advertisers have reduced their spending on the social media network since the billionaire took control of it.