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By CNBCTV18.com Mar 26, 2023 10:51:21 AM IST (Published)
The employees of social media company will receive stock awards based on a roughly $20 billion valuation. This valuation is less than half of the $44 billion that Musk had paid to acquire the social media platform.
Twitter CEO Elon Musk has offered stock grants to the company's employees at a valuation of nearly $20 billion. This valuation is less than half of the $44 billion that Musk had paid to acquire the social media platform, according to a report by the Information.
"I see a clear, but difficult, path to a >$250B valuation," meaning stock granted now would be worth 10 times more, Musk said in the email stating that he was optimistic about the social-media company’s future.
The report suggests that this drop in Twitter's value could be the reason for the lowered stock grant valuation. Although Twitter has not yet commented on the report.