Elon Musk values Twitter less than half of $44B price tag in offer to employees – Fox Business
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Billionaire Twitter CEO Elon Musk bought his company for less than half the price it was last week offering stock options to employees.
According to the Wall St. Journal, Musk made stock grants to employees earlier this month in an email that valued the company at about $20 billion, a far cry from the $44 billion he bought the company last year.
“I see a clear, but difficult path to a $250B valuation,” Musk wrote in an email announcing the grants.
Twitter responded to a press inquiry from Fox Business with a poop emoji. Musk recently announced that all inquiries on Twitter’s press line would be answered as is.
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Twitter CEO Elon Musk sent out an offer to employees, valuing his company at around $20 billion. (Muhammad Salim Korkutata / Anadolu Agency / Getty Images)
Musk has made massive changes to Twitter since taking over the company last year. (AP Photo/Jeff Chiu/AP Newsroom)
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The email to employees came the same week Musk sent a late-night memo informing employees that working from home was not an option.
Musk is not a fan of remote working. Back in November, he ended Twitter’s work-from-home accommodation, telling employees within driving distance of the office that they needed to show up in person or be considered for their “acceptance of resignation.”
The eccentric CEO fired thousands of Twitter employees shortly after coming out the door in November.
At the time, Musk bought the company for $44 billion, and he argued that he needed to make drastic changes to save the company from bankruptcy.
Musk fired thousands of Twitter employees in the early weeks of his tenure as CEO, arguing that the company was on the verge of bankruptcy. (Photo by Theo Wargo / WireImage / Getty Images)
Musk took over the company with a commitment to promoting free speech on the platform. He has since allowed journalists, including independent journalist Matt Tibbie, to publish internal documents and communications from Twitter’s previous leadership.
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These reports have been coined “The Twitter Files”, with the first installment of Tibbie focusing on Twitter’s internal discussions that led to the Hunter Biden laptop story being censored 2020 presidential election.
Fox Business’ Chris Pandolfo and Haley Chi-Sing contributed to this report.
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