The value of social network
- October 31, 2023
- 0
American businessman Elon Musk has confirmed that the value of social network X (formerly Twitter) is less than half of the $44 billion he paid last year. According
American businessman Elon Musk has confirmed that the value of social network X (formerly Twitter) is less than half of the $44 billion he paid last year.
According to Ukrinform, Rolling Stone reported this.
On Monday, October 30, Musk rewarded all the X employees he did not fire with shares in the company, saying they were worth $19 billion, or $45. per share
This amount is 55% less than when Musk bought Twitter last year.
In contrast, the company Fidelity, which provided more than $300 million in “vaccine”. In the deal to buy the old Twitter, Musk believes the company is worth 65 percent less than it was last year.
It is stated that the new estimate for the cost of X is a full billion dollars less than the $20 billion Musk stated in an internal email in March.
As reported by Ukrinform, on October 27, 2022, billionaire Elon Musk already published a letter for advertisers on his page on his social network, in which he confirmed that he had finally acquired Twitter (now called X).
Photo: Getty Images
Source: Ukrinform
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