According to an email fired by Elon Musk to Twitter employees on Friday, the social network is now worth about $20 billion, less than half of what he paid in October 2022 to command the platform, $44 billion. The information was obtained by The Information.
The message was sent with the aim of announcing a compensation program to reward employees with shares of X Corporation, the holding company used in the Twitter transaction. In the message, the CEO says that the company’s financial situation is bad and that it was four months away from having the cash flow zeroed out, justifying the mass layoffs —here called “radical changes”. Now, the businessman says he sees Twitter as a “reverse startup”, changing its business model.
Musk also said in the email that he believed Twitter could someday be worth $250 billion. Twitter plans to allow employees to sell shares every six months, similar to SpaceX’s practice. With that, employees could have “liquid stock, but without the stock price chaos and legal burdens of a public company,” Musk wrote.
It is also worth remembering that from April 1st, only Twitter Blue subscribers will have the verification seal. They should also start charging for API plans, which should start – the cheapest service should cost US$ 42 thousand (R$ 220 thousand), according to The Wired. This type of subscription can be used, for example, to use bots to notify events and broad access to public data on the platform.
