Elon Musk puts $20 bln value on Twitter

Elon Musk, CEO of Twitter Inc., offered the company’s employees stock grants at a value of $20 billion, said an informed source on Saturday.

This points to a drop in Twitter’s value, since this value is less than half the value Musk paid of $44 billion to acquire the social media platform.

According to Reuters, in December, Musk said that the company is currently on track to be “roughly cash flow break-even” in 2023 as top advertisers reduced their spending on the platform after the billionaire’s takeover.