Even that seems wildly overvalued. https://t.co/FRZq58R4tT
— Clean Observer (@Hammbear2024) October 30, 2023
I assume this is happening now because the IRS, or the banks which are his creditors — or both — are pressing Musk a littler harder than he can handle? Per the NYTimes:
X, the company formerly known as Twitter, handed out stock grants to employees on Monday that showed it was worth about $19 billion, down about 55 percent from the $44 billion that Elon Musk paid to buy the firm a year ago, according to internal documents seen by The New York Times.
Mr. Musk paid $54.20 a share to buy Twitter just over a year ago. The tech billionaire has since said he overpaid for the social network. In March, he wrote in an email to workers that he believed the company was worth $20 billion, calling it “an inverse start-up.”
In the paperwork for the new stock grants, X said the equity would be offered at $45 a share in the form of restricted stock units, which employees can earn over time. Employees will still be paid in cash in the amount of $54.20 for any outstanding shares that were granted to them under previous management, the company said.
It’s unclear why the share price has not dropped by the same percentage as the company’s valuation, though X could have altered the amount of shares outstanding. Fortune earlier reported on the valuation…
I cannot imagine Elon knows anything about dating, and he spent $44B on this site so I don't think he should be holding anyone's money either. https://t.co/FQdlh1ROA9
— Linette Lopez (@lopezlinette) October 30, 2023
Late Night Open Thread: Elon Musk, Plate-SpinnerPost + Comments (45)









