Pandora peaceman 
Elon Musk, the Chief Executive Officer of the micro-blogging site, Twitter has said that the site is now worth $20 billion, which was less than half the $44 billion he paid for the social media platform six months ago.
Musk disclosed this on Friday while speaking with his employees after announcing a new stock compensation program.
Musk shared the valuation, a significant drop from the $44 billion he paid to buy the company last fall, in a memo he sent to his employees on Twitter.
Musk said he has lost so much money from Twitter this recent month and is now worth just $ 20 billion, a whopping $ 24 billion less than what he purchased it for in October 2022.
Employees referred to a new stock compensation program in the San Francisco-based company and the allocation of shares to employees of X Holdings, Twitter’s umbrella company since Musk purchased it in late October.
Musk added, a “clear but difficult path” to a $250 billion valuation, a hypothetical outcome that would make the company’s current stock grants worth 10 times as much in the future, he further said Twitter should allow staff to sell stock every six months similar to the one at SpaceX.
According to Musk, the program would give employees “liquid stock” while shielding them from the “price chaos” that comes with equity at a publicly traded company.
The compensation plan values the platform at $20 billion, slightly more than Snapchat’s parent company Snap ($18.2 billion) or Pinterest ($18.7 billion), both of which are publicly traded, unlike Twitter. I
A query from AFP emailed to Twitter’s communications department generated an automatic response in the form of a poop emoji.
The CEO of Tesla describes the brutal contraction in Twitter’s value which was seen in the internal email. He says the platform faced such grave financial difficulties that at one point it was on the verge of failure.
“Twitter was trending to lose ~$3B/year,” Musk said in a message posted Saturday on the platform, Twitter’s majority shareholder, added simply: “Extremely dire situation “
He cited a revenue drop of $1.5 billion a year and a debt-servicing burden of the same amount leaving it with “only 4 months of money
But he then said that “It looks like we will break even” in the second quarter of the year, with advertisers many of whom fled the platform after the mercurial billionaire bought it now beginning to return.
Since taking control, Musk has sharply cut the group’s payroll from 7,500 employees to fewer than 2,000.
GitHub removed the files from its site at Twitter’s request, but their brief exposure could allow hackers to identify flaws in Twitter’s original software.
As of early February Twitter blue subscribers in the US which we’re about 180,000 were suggesting the service is nowhere close to making up for the financial downturn Twitter has experienced since Musk’s takeover.
