We can all be honest with ourselves here. We knew for a fact that clown prince of trolls (or just clown), Elon Musk, paid too much for Twitter. On October 27, 2022, he purchased the company for $44. billion. Today, over a year later, the company is being valued at $19 billion. Between being forced to buy it and this news today, I can definitively say Musky Musk found out.
Today, the employees that weren’t fired and still stuck around at Twitter were given equity in the company at the above valuation. That comes out to about $45 a share. When the purchase was complete, I made $54.20 (see Musk’s little joke there). Amazing what a year makes. That is a drop of nearly 55%.
Since he moved his own sink into the building, Musk had a desire to model Twitter’s compensation structure after Space X. That, too, is a private company. However, employees can just sell their shares to outside investors.
Keep in mind that the $19 billion is what Musk says it’s worth. Banks like Fidelity think he’s being a bit too generous with that valuation. They believe he lost 65% of his money instead of the 55% he’s claiming.
Source: The Verge
