The Tesla founder paid $44 billion for the platform in October
Elon Musk told employees on March 25 that the company is now valued at $20 billion valuation, according to a senior reporter at The Verge.
That’s less than half of the $44 billion he paid for the social networking platform in October 2022.
The Verge’s Zoe Schiffer tweeted on Saturday, “Musk sent Twitter employees an email about the state of Twitter 2.0. He acknowledged the company has been through a period of radical change, but said the changes were necessary… Because Twitter was previously about 4 months away from running out of money.”
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Schiffer continued, “Comp increases will be based on X Corp stock.