An internal memo circulating at social media company X (formerly Twitter) has reportedly shown the value of the company is now at $19 billion, less than half of the $44 billion Musk paid this time last year.
Elon Musk’s social media platform, X , is worth less than half of what the tech billionaire bought it for in October last year, an internal memo has reportedly revealed.from Bloomberg, the internal memo and sources familiar with the matter said that restricted stock units recently paid to employees of the company were valued at $45 a share, which puts the company’s value at around $19 billion, less than half of the $44 billion that Musk paid for the company on Oct. 27, 2022.
Musk has made it clear that he wants to rely more heavily on paid user subscriptions, but as of right now, less than 1% of the platform's total user base haspaying individual creators Recently, Musk announced that any posts corrected by the Community Notes feature would become “ineligible for revenue share” — a move that seeks to prioritize accurate information over the purely viral, and potentially inaccurate content.” — largely inspired by the super apps popular in Asia such as WeChat — which would see the social media platform expand to include a range of financial services, video calls and other lifestyle use cases.
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