An internal document seen by US media showed that Elon Musk currently estimates the value of Twitter at twenty billion dollars, after the estimated value was 44 billion when he acquired the social network five months ago.
An internal document, seen by US media, showed that Elon Musk currently values Twitter at $20 billion.
The estimated value of Twitter was 44 billion when Elon Musk acquired the social network five months ago.
The internal message addressed to employees relates to profit sharing within the group, which is headquartered in San Francisco, and to the allocation of shares in the “X Holdings” company that oversees Twitter since its acquisition at the end of last October, according to what was reported by the American Al-Hurra channel.
The stock distribution program estimates the value of the platform at $20 billion, which is close to the value of the capital in “Snap,” the parent company of “Snapchat” ($18.2 billion), or the “Pinterest” network ($18.7 billion), both of which are listed companies. in the stock exchange.
In the internal document, Elon Musk attributes the significant decline in the estimated value of the company to the financial difficulties faced by Twitter, which was close to bankruptcy at a certain stage, he said.
"Twitter was expected to lose $3 billion annually," Elon Musk wrote in a message posted on the platform on Saturday.
This figure, he says, is explained by a loss in turnover of $1.5 billion and debt maturities of an equivalent value.
"But now that advertisers are back, it looks like we're going to break even in the second quarter" of 2023, said the head of Twitter, the network's majority shareholder.
Since taking over the platform, Elon Musk has reduced the group's workforce from 7,500 to fewer than 2,000 employees, by resorting to successive waves of layoffs.
In the internal document, Elon Musk says he sees a "difficult but clear path" toward valuation of the group by about $250 billion, without mentioning a deadline.
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