Elon Musk reportedly halves Twitter’s valuation in internal memo
Elon Musk has put a $20 billion value on Twitter, making up less than half of the $44 billion Musk paid to acquire the site, according to reports from Platformer and The Information. In a memo sent to staff viewed by Platformer’s Zoë Schiffer, Musk reportedly says that employees will receive stock grants based on Twitter’s $20 billion valuation.
As noted by Schiffer, Musk adds that he sees “a clear but difficult path” to achieving a $250 billion valuation, which would eventually make Twitter’s current stock grants worth 10 times as much as they are now (if this actually ends up panning out, of course). Just like the Musk-owned SpaceX, Twitter will also reportedly let employees cash in their stock grants at specified periods.