Twitter Is Worth $20 Billion Which Is Less Than Half What Musk Paid
According to the internal email which is seen by the American news media, the worth of Twitter is currently $20 billion which is less than half of the payment that Elon Musk paid to buy the social media platform 5 months ago. Musk paid a total 44$ to buy Twitter and now its worth is less than half.
A new email was sent to the employees in which they have to deal with the new stock compensation program in the Company which is San Francisco based. And the attribution to the employees of Twitter of stock X holdings the Twitter Umbrella Company. When Elon purchase it in October of last year.
The compensation plan is worth the platform at $20 billion which is likely more than the snap ($18.2 billion). Snap is the parent company of Snapchat and other social media platforms Pinterest ($18.7 billion) . And both Twitter is publicly traded.
Last month in February, Twitter implements a new restriction on SMS-based 2FA. Which is bad news for the user who is using this feature. Musk said in a Twitter post that the company is getting scammed by phone companies that use fake 2FA SMS messages.
Email sent to the Communication Department of Twitter:
AFP sent an email query form to the Communication department of Twitter which develop the automatic response in the form of poop emoji. In the internal email, Elon musk describes the brutish contraction in the value of Twitter. In addition, he said that the platform is facing difficult financial issues at one point which is on the verge of bankruptcy.
The message was posted on Saturday on the Twitter platform in which musk said that Twitter was pointing to losing $3 billion per year. Elon Musk extracted a revenue drop of $1.5 billion in a year and a debt-servicing burden of the same amount. This amount will leave only 4 months of money.
The majority shareholder of Twitter Company said it is an extremely dire situation for the company and us. Musk said that we will try to break even situation in the second quarter of the year. The advertisers who leave the company when Elon purchased the platforms are planning to come back.
Musk Decrease the Workforce of the Company:
After purchasing the platform, musk drastically decreases the workforce by decreasing employees from 7500 to under 2,000. We would also allow our employees to sell their other social media platform shares and cash in every six months.
In last he writes in his email “I am seeing a route which is very tough but if we did it successfully the valuation will become $250 billion.”
The CEO of Twitter Elon musk write a letter to the Communication department of Twitter. The letter is being leaked and it states that the worth of Twitter is now $20 billion. Which is half of the amount that must pay to buy Twitter 5 months ago.
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