Twitter Now Worth $20 Billion, Less Than Half Of What Elon Musk Paid

Elon Musk has placed the cutting-edge price of Twitter at $20 billion, much less than 1/2 of the $forty four billion he paid for the social media platform simply 5 months ago, in keeping with an inner e mail visible through American information media.

The e mail to personnel treated a brand new inventory reimbursement application withinside the San Francisco-primarily based totally agency and the attribution to personnel of inventory in X Holdings, Twitter`s umbrella agency when you consider that Musk bought it in past due October.

The reimbursement plan values the platform at $20 billion, barely greater than that of Snap ($18.2 billion), discern agency of Snapchat, or of social community and innovative internet site Pinterest ($18.7 billion), each of which, in contrast to Twitter, are publicly traded.

An emailed question from AFP despatched to Twitter's communications branch generated an automated reaction withinside the shape of a poop emoji.

In the inner e mail, Musk describes the brutal contraction in Twitter's price. He says the platform confronted such grave economic problems that at one factor it changed into at the verge of bankruptcy.

"Twitter changed into trending to lose $3B/12 months," Musk stated in a message published Saturday at the platform.

He mentioned a sales drop of $1.five billion a 12 months and a debt-servicing burden of the identical amount -- leaving it with "most effective four months of money."

Musk, Twitter's majority shareholder, delivered simply: "Extremely dire situation."

But he then stated that with advertisers -- lots of whom fled the platform after the mercurial billionaire offered it -- now starting to return, "It seems like we can wreck even" withinside the 2nd zone of the 12 months.

Since taking control, Musk has sharply trimmed the institution's payroll, from 7,500 to fewer than 2,000 personnel.

He stated withinside the e mail that he sees a "clean however tough path" to a valuation of $250 billion, with out pronouncing how lengthy that could take.

Musk, who's additionally the leader govt of Tesla Inc. and aerospace institution SpaceX, stated that Twitter might permit personnel of the social community to coins in stocks each six months.