Arab Press

بالشعب و للشعب
Saturday, Jul 27, 2024

Elon Musk values Twitter at less than half of $44B price tag in offer to employees

Elon Musk values Twitter at less than half of $44B price tag in offer to employees

Musk's offer to employees valued the company at $20 billion

Billionaire Twitter CEO Elon Musk valued his company at less than half the price he purchased it for in a stock option offer to employees last week.

Musk gave stock grants to employees in an email earlier this month that valued the company at roughly $20 billion, a far cry from the $44 billion he purchased the company for last year, according to the Wall St. Journal.

"I see a clear, but difficult, path to a >$250B valuation," Musk wrote in the email announcing the grants.

Twitter responded to a press inquiry from Fox Business with a poop emoji. Musk recently announced that all inquiries to Twitter's press line would be responded to as such.

Twitter CEO Elon Musk sent an offer to employees that valued his company at roughly $20 billion.

Musk has made massive changes at Twitter since taking over the company last year.


The email to staff came the same week Musk sent a late-night memo informing employees that working from home was not an option.

Musk is not a fan of remote work. Back in November, he ended Twitter's work-from-home accommodations, telling employees within driving distance of the office that they needed to show up in person or consider their "resignation accepted."

The eccentric CEO fired thousands of Twitter's employees soon after coming through the door in November.

At that time, Musk had just purchased the company for $44 billion, and he argued he needed to make drastic changes in order to prevent the company from going bankrupt.

Musk fired thousands of Twitter's employees in the opening weeks of his tenure as CEO, arguing the company was about to go bankrupt.


Musk took over the company with a commitment to promote free speech on the platform. He has since allowed journalists, including independent journalist Matt Taibbi, to publish internal documents and communications from Twitter's previous leadership.

These reports have been coined "The Twitter Files," with Taibbi's first installment focusing on Twitter's internal discussions that led to it censoring the Hunter Biden laptop story during the 2020 presidential election.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Kamala Harris Pledges Action on Gaza Crisis after Netanyahu Meeting
Heatwave in Morocco Claims 21 Lives in Beni Mellal
Israel Warns France of Iranian Threats at Paris Olympics
Hamas and Fatah Sign Unity Pact Amid Gaza Conflict
Netanyahu Urges Unity Between US and Israel in Congress Speech
Netanyahu Criticizes Anti-Israel Protesters in US
World's Hottest Day Recorded on July 21
Sri Lanka Apologizes for Forced Cremation of Muslim Covid Victims
Hacking Vulnerabilities: Androids vs. iPhones
Israel Conducts First Direct Air Raid on Yemen's Hodeidah Port
Joe Biden Withdraws from 2024 US Presidential Race
A Week of Turmoil: Key Moments in US Politics
US Criticizes International Court's Opinion on Israeli Occupation
Netanyahu Denounces World Court Ruling on Israeli Occupation
Adidas Drops Bella Hadid Over Controversy
UAE Court Sentences 43 to Life Imprisonment Over Terrorist Links
Spain PM Pedro Sanchez Denounces Double Standards on Gaza at NATO Summit
Biden Affirms Commitment To Presidential Race
2024 Predicted to Be World's Hottest Year
Iran's President-Elect Masoud Pezeshkian Reiterates Support for Hezbollah
Biden Insists on Continuing Presidential Race Amid Criticism
US Officials Resign Over Biden's Gaza Policy
Campaigners Push for Emergency Uplift Visa for Palestinians Escaping Gaza Conflict
Netanyahu Criticizes Release of Gaza Hospital Head
UK Government and British Airways Sued Over 1990 Kuwait Hostage Incident
Afghan Women's Rights Declared Internal Issue by Taliban
UK Appeals to ICC May Delay Arrest Warrants for Israeli Leaders
Iran's Presidential Election: A Close Race
Iran Threatens Retaliation if Israel Attacks Lebanon
EU Enforces Sanctions on Hamas Financiers
UN Agency Sued by Israelis Over Alleged Aid to Hamas
United States Bans Kaspersky Antivirus
White House Cancels US-Israel Meeting Amid Netanyahu's Accusations
Muslim Community Leader Criticizes Nigel Farage for Undermining Muslims
Hezbollah Chief Threatens All of Israel Amidst Escalating Conflict
Canada Lists Iran's Revolutionary Guards as Terrorist Group
Iran Sentences Nobel Laureate Narges Mohammadi to 1-Year Prison Term for Propaganda
Japan Considers Sanctions on UAE-Based Entities for Aiding Russia
Israel Rescues Four Hostages from Gaza
Iran Approves Six Candidates for Presidential Election After Raisi's Death
Israeli Commander Resigns After Hamas' October 7 Attack
Israeli War Cabinet Minister Benny Gantz Resigns Over Gaza Strategy
UN to Add Israel to Human Rights Blacklist
Labour Party to Pledge Recognition of Palestinian State in Election Manifesto
Hamas Rejects Biden's Gaza Ceasefire Proposal as 'Just Words'
Hamas Has Not Responded To Latest Ceasefire Proposal: Qatar
State of Palestine Seeks to Join UN Court Case Accusing Israel of Genocide
Hezbollah Launches Drone Squadron Towards Israeli Military Targets
US-Built Pier in Gaza Faces Setbacks and Repairs
Norway, Ireland, and Spain Recognize Palestinian State
×