Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants worth nearly $20 billion, according to the Information, citing a person familiar with an email Musk sent to Twitter employees.
The reported valuation is less than half of the $44 billion paid by Musk to acquire the social media platform, indicating that Twitter’s value has declined.
Musk stated in December that Twitter is on track to be “roughly cash flow break-even” in 2023, despite the fact that top advertisers reduced their spending on the social media platform following Musk’s takeover.
