Twitter Inc CEO Elon Musk has supplied the social-media firm’s staff inventory grants at a valuation of almost $20 billion, the Data reported on Saturday, citing an individual conversant in an e-mail Musk despatched to Twitter employees.
The reported valuation is lower than half of the $44 billion that Musk paid to amass the social media platform, pointing to a drop in Twitter’s worth.
Musk mentioned in December that Twitter is on monitor to be “roughly money stream break-even” in 2023 as prime advertisers slashed their spending on the social-media platform after the billionaire’ s takeover.