According to Elon Musk, still recent owner of Twitter, the social network would now weigh only 20 billion dollars, against 44 when buying the platform.
With the accent dear to a little applied Frenchman, Twitter, was it a business? The question may reasonably arise after the disclosure of an internal document where Elon Musk, current owner of the social network, estimates the value of its recent acquisition. As 20 Minutes reports, this letter for employees relates to the incentive within the group and the allocation of shares of the company X Holdings. Which, we are told, has been overseeing Twitter since its takeover last October.
Twitter is currently worth $20 billion, Musk says, up from $44 when acquired
While he had paid 44 billion dollars to buy the network of the blue bird, Elon Musk estimates that Twitter now weighs 20 billion. We are thus approaching the weight of Snap, parent company of Snapchat (18.2 billion) and the Pinterest site (18.7 billion).
A return to balance expected for the second quarter
How to explain such a collapse? The billionaire recalls the financial difficulties that Twitter was experiencing before changing hands: “Twitter was set to lose $3 billion a year”. Added to this is a decline in turnover of $1.5 billion and debt maturities that are just as substantial. The CEO of the network is nevertheless confident for the near future: “But now that advertisers are coming back, it looks like we’re going to break even in Q2” 2023.
Employees who will be able to sell their securities
In this same internal document, Elon Musk also indicated that every six months, Twitter will open a window that will allow employees of the platform to resell their titles, which are no longer listed.
