Twitter Is Now Worth $20B, Less Than Half Its Purchase Price, Elon Musk Claims
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deadline.comHow do you make a small fortune? The old joke suggests you start with a large one. But Elon Musk isn’t laughing at that punch line, as Twitter has drastically shrunk in its valuation, at least in his eyes.
The New York Times reports that Musk claims Twitter is now worth $20 billion, a figure way down from the $44 billion spent last October to purchase the platform.
Musk made his claim in an email sent to company employees, the Times said, adding it had seen the note. The email was sent to employees to announce a stock compensation program.
In it, Musk said Twitter was still in bad shape financially, even as massive layoffs and cutting perks have shrunk the headcount.
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