Twitter is now worth only about $15 billion, a massive 33 per cent lower than $44 billion Elon Musk and his co-investors paid to acquire the platform, the media reported on Wednesday. Twitter Valuation Drops To Just USD 15 Billion Under Elon Musk: Report.
Twitter's sale highlights a little-discussed and poorly understood compensation practice: the retention bonus. A key feature in the mergers and acquisition context, these financial inducements are aimed at keeping employees in their seats in the face of corporate insecurity.
Tesla CEO Elon Musk has finally taken over as Twitter boss and his first job was to reportedly fire Indian-origin CEO Parag Agrawal, Chief Financial Officer Ned Segal, the company s policy chief Vijaya Gadde and others.
The $44 billion Elon Musk-Tweeter deal has been revived, making the social media app stock surge 22%. It is said that the Tesla CEO is doing it to stay away from the trial.
Musk has for weeks expressed concerns, without any apparent evidence, that there are a greater number of bots and spam accounts on the platform than Twitter has said publicly.