Ah, nope. Twitter valued at less than $20 billion. Musk paid more than twice as much for it

Elon Musk took over Twitter The deal had been hanging by a thread for months earlier in July, but Musk finally agreed to pay the previously negotiated amount.

We know how much Twitter can be worth. Musk has lost billions

Now, however, the social platform is supposed to be worth less than 20 billion dollars, reports . This is the result of a note that Elon Musk was supposed to send to employees of the company. In it, the billionaire encourages employees to buy shares in the company at subsidized prices. The memo noted that employees would be able to sell their shares every six months at an independently determined rate.

$20 billion is over two times less than Twitter was worth in October 2022, just before it was taken over by Elon Musk. Such a decrease is the result of the controversial actions of the new boss and the huge mess that reigned under the rule of the billionaire.

Musk announced the introduction of unlimited freedom of speech on Twitter, unblocked some users who broke the (earlier) rules of Twitter, and massively fired the company’s staff (less than 2,000 of the 7,500 employees remained). One of the effects was the flight of many large advertisers and the reduction or suspension of cooperation by others.

The second richest man in the world is also to admit in a note that for four months before the wave of layoffs, Twitter operated despite the lack of money in the cash register. However, he did not directly admit how the company’s situation is developing now (Musk is doing what he can to make Twitter earn money, including ).

However, the billionaire is clearly an optimist. In a message to employees, he said he sees a “clear path” to a significant increase in the value of Twitter. According to Musk, in the future the social networking site could be valued at $250 billion, ten times more than it is today.