Musk Predicts Twitter Value Has Dropped by Half Since Purchase
American businessman Elon Musk has offered Twitter employees a stock award based on a total company value of about $20 billion, less than half the $44 billion he bought it for.
This was announced yesterday, on Saturday, by The Information portal, citing a source familiar with the internal correspondence of the company “Twitter”.
Portal described this as “a direct recognition of the degree of reduction in the value of the company after the transaction.”
Musk and Twitter have not yet commented on this information.
The Wall Street Journal previously reported that Twitter’s revenue fell about 40% in December last year after some advertisers refused to cooperate with it.
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