The media learned about the valuation of company X at $19 billion
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Social network X (formerly Twitter), owned by American businessman Elon Musk, is valued at $19 billion. About this reported Fortune magazine, citing sources and a screenshot of a letter sent to employees.
The valuation was given on the basis of one share of the company, which is allocated to the employee. “Private company owned by Elon Musk is giving out RSUs to employees [дополнительные бонусы] at a share price of $45,” the statement said.
According to Fortune, in March of this year the company offered employees securities with a total value of $20 billion.
In mid-July, Musk complained that the company was unprofitable due to a 50% drop in advertising revenue and a large debt load. Later, The Wall Street Journal wrote that the banks that financed Musk’s purchase of Twitter expected to lose about $2 billion.
Musk closed the deal to purchase Twitter on October 27, 2022, the deal was worth $44 billion. On July 24, Twitter was renamed X. Innovations also affected the platform logo: instead of a blue bird, it now features the letter X, and the domain has changed to x.com. Posts on Twitter after the rebranding of the social network will be called “Xs” rather than “tweets.”
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