Social media company X is now worth less than half of what Elon Musk paid for Twitter, according to internal documents quoted by the press. The billionaire investor purchased the platform, Twitter at the time of acquisition, for $44 billion last October. He has previously admitted to overpaying for it.
Social Media Giant X Worth Less Than Half of the Price Elon Musk Paid for Twitter
Elon Musk’s social media platform X, formerly Twitter, has valued itself at $19 billion, a number of media outlets revealed at the start of the week. That’s around 55% less than what the tech entrepreneur paid for the company in October 2022.
The figure is based on equity in the company offered to employees in the form of restricted stock units at $45 a share, the New York Times and Fortune Magazine reported Monday citing internal documents and sources familiar with the matter.
Twitter was valued at $44 billion when Musk bought it and he paid $54.20 a share to take it private last year, Forbes recalled
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