Yikes! Twitter CEO Elon Musk is reportedly offering his employees new equity via stock grants, while revealing that the company is worth $20 billion. This is less than half of the $44 billion that he paid to acquire the platform exactly 5 months ago in October 2022.
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Elon Musk Reportedly Offers Twitter Employees Stock Grants, Reveals Company Is Worth $20 Billion — Less Than Half Of The $44 Billion He Paid 5 Months Ago
It is being reported by publications ‘Platformer’ and ‘The Information,’ that in an alleged email sent to his staff over the weekend, Musk reportedly offered his employees stock grants based on a new $20 billion valuation of the company.
While this may mean a good thing for the staffers — should the company value recover — for Musk, it equates to a $24 billion loss.
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Reports claim that Musk’s newest move could be an attempt to signify his appreciation for his remaining employees. Especially, following his mass exodus a few months ago.
If you recall, shortly after acquiring the company, Musk had thousands of Twitter employees packing up their desks in a series of job cuts — which then also led to mass resignations, and remaining employees fearing what direction Musk would lead the company in next.
With Musk issuing current staff equity, this could be his peace offering to his remaining employees, and an overall sign of good faith. #Socialites what do you think?
Speaking of Musk’s radical changes, it is reported that in his alleged email, Musk reportedly claimed that he views Twitter as an “inverse startup,” due to the many “necessary” changes he made upon acquiring the platform (ie: see last paragraph).
Musk reportedly claims his actions were done to save Twitter from bankruptcy. Furthermore, it is also reported that Musk says he “sees a clear, but difficult path” to hitting a $250 billion valuation.
If the company hits the goal, this would make Twitter’s current stock grants worth 10 times as much as they currently are now.
#Socialites, be sure to check out the post below, then leave us your thoughts in a comment after!
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