X says it is worth $19 billion, down from $44 billion last year
X says it is worth $19 billion, down from $44 billion last year
The social media company’s valuation was disclosed in the paperwork for stock grants that it handed to employees on Monday.
X says it is worth $19 billion, down from $44 billion last year::The social media company’s valuation was disclosed in the paperwork for stock grants that it handed to employees on Monday.
![[Twitter] X Says It Is Worth $19 Billion, Down From $44 Billion Last Year](https://lemmy.world/pictrs/image/0ab080af-32d3-4c4d-91b8-8b72a49d42a2.jpeg?format=webp&thumbnail=196)
Elon truly is one of the businessmen of all time.
This means he won’t have to pay income tax for a while. Maybe ever.
love it when he said "it's businessin' time!"
and then he businessed all over the place
All the comments under you says there’s a meme attached to your comment but I don’t see it
When I said "one of the businessmen of all time" that sentence is a play on "one of the best businessmen of all time". The above phrase is a meme. Memes are not limited to funny pictures.
He called it an "inverse startup". So, a shut down?
yes
Yes well I'm worth Eleventy-Billion, down from a historic high of Biggilty-Billion.
I'm worth schfifty-five.
Musk fanboys are so very excited. They are waiting for his last minute genius move to explain his super smart strategy. I'm not holding my breath
WuuUuuhhh?! But it has such a cool name now, duuude! 😎
Did Elon make a Brewster's Billions bet with the Saudis or something?
As long as they still operate, they have too much money on their hands.
Bird killer! That’s why! Never kill off birds! Or how he called it X’ed them
Who knew Larry the Bird was an albatross the entire time
This is the best summary I could come up with:
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.
In March, he wrote in an email to workers that he believed the company was worth $20 billion, calling it “an inverse start-up.”
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.
In his year of owning Twitter, Mr. Musk has overhauled the company and the social media platform.
Advertising, the company’s main source of revenue, was down in the United States by almost 60 percent this summer.
Last week, in a company meeting celebrating the first anniversary of the deal, he laid out how he believed X could serve as an all-purpose app with an array of features, including dating services and job recruiting, according to a recording obtained by The Times.
The original article contains 456 words, the summary contains 183 words. Saved 60%. I'm a bot and I'm open source!
$19 billion, or $49 billion in Trump Fantasy Bucks.
Ouch...
I mean that's the reason why they call them unrealized gains. Valuation can tank