Elon Musk values Twitter at $20 billion, a steep fall from the $44 billion he paid to own it: report

The Tesla owner had taken over the social media platform in October 2022.

Twitter chief Elon Musk, as per Reuters, has offered the company’s employees stock grants at a valuation of nearly $20 billion which is less than half of the $44 billion he gave to own the social media platform.

Employees, as per The New York Times, will receive stock in X Corporation, the holding company Musk used to buy Twitter and take it private, and they will be allowed to sell the stock every six months.

A few days ago, Twitter announced it was ending its legacy verified program and removing legacy verified checkmarks, and anybody wanting to keep their verified status had to subscribe to Twitter Blue costing Rs 566.67/month (annual plan) or Rs 650/month.