Business & Economy
Musk: Twitter is worth less than half of what you paid for it
American businessman and billionaire Elon Musk revealed that Twitter is now worth less than half of what he paid.
Musk said in an email about the awarding of shares to employees that “the company has undergone a period of radical change but is necessary because it was about 4 months away from running out of money.”
He noted that the stock grants were based on a “$20 billion valuation”, while Musk paid $44 billion to acquire Twitter in late October.