Twitter’s Worth, According To Elon Musk, Is Just $20 Billion.

According to an internal memo viewed by American news media, Elon Musk has estimated the current worth of Twitter at $20 billion, which is less than half the $44 billion he spent for the social media network just five months earlier.

The communication to staff members discussed a new equity incentive plan for the San Francisco-based business and the distribution of shares to workers at X Holdings, the parent company of Twitter since Musk acquired it in late October.

The platform is valued at $20 billion according to the compensation plan, which is only a little bit more than either Pinterest ($18.7 billion) or Snapchat’s parent firm Snap ($18.2 billion), both of which, unlike Twitter, are publicly listed.

The aerospace company SpaceX and Tesla Inc.’s top executive, Elon Musk, both announced that Twitter will let its staff to sell shares every six months.

An automated response in the shape of a poop emoji was created in response to an email from AFP to Twitter’s communications team.

Musk outlines the dramatic decline in Twitter’s valuation in the confidential email. He claims that the platform had severe financial issues to the point that it was almost insolvent at one time.

In a comment made on the social media site on Saturday, Musk said that “Twitter was trending to lose around $3B/year.”

He estimated a $1.5 billion annual sales decline and a $1.5 billion debt payment cost, leaving the company with “just 4 months of money.”

Musk, who owns a majority of Twitter, simply added: “Extremely bad situation.”

The mercurial billionaire subsequently acquired the site, and many advertisers left, although he then added that “It seems like we will break even” in the second quarter of the year.

After assuming leadership, Musk has drastically reduced the organization’s payroll from 7,500 personnel to around 2,000.