Twitter Inc CEO Elon Musk has provided the social-media firm’s staff inventory grants at a valuation of practically $20 billion, the Data reported on Saturday, citing an individual conversant in an electronic mail Musk despatched to Twitter employees.
The reported valuation is lower than half of the $44 billion that Musk paid to amass the social media platform, pointing to a drop in Twitter’s worth.
Twitter didn’t instantly reply to a Reuters’ emailed request for a remark.
Musk stated in December that Twitter is on observe to be “roughly money stream break-even” in 2023 as high advertisers slashed their spending on the social-media platform after the billionaire’ s takeover.
