The most media magnate spent 44,000 million dollars on Twitter to (almost) destroy it, and now, after the initial whirlwind, he himself values the company at around 20,000 million and predicts a better future for it.
It seems that the great tycoons and big bosses of the technology sector want to offer us headlinesand it is that a couple of days ago that the Match Group CEOthe company that owns Tinder, claimed to have spent $50,000 on Clash of Clans and now feel very ashamed about it. Good Bernard Kim accompanied him Carl Pei speaking of the imitation of his Nothing that Unihertz had pulled out of his sleeveand now we have a regular of these news like Elon Muskwhich accustomed to sensationalism has left another most striking cover.
In fact, as our classmates told us Engadget Following the trail of a news item that appeared in The New York Timesit seems that the billionaire born in Pretoria, South Africa, assumes losses of approximately $24,000 in the Twitter purchase operationalthough for him not everything is bad as you will see now.
It should be noted initially that the news comes from internal company emailsso we are going to take it as something reliable if we count on that it has been leaked by one of the few employees that remain in the San Francisco offices.
For starters, Elon Musk acquired Twitter for a stratospheric amount of 44,000 million dollars with the sole purpose of controlling the most influential social network on the scene on-linealthough in the attempt to make it profitable at the speed of a SpaceX rocket those who have suffered have been the huge percentage of employees affected by mass layoffs and strategic lurches arising from the decisions of Elon himself, who will continue to make controversial decisions such as that of remove old checks.
Now it has been the new boss of Twitter himself who wanted to encourage the troops with a memorandum announcing new stock compensation programs for all employees, noting that yes that the company was still in ICU financially speaking and? “Twitter would continue to reshape itself rapidly” to better monetize your business and make it profitable.
According to Elon Musk, the future of Twitter is clear in his mind even if the company is still in the ICU, and he announces that he foresees a valuation of 250,000 million dollars in the medium term to harangue the troops and encourage the (few) employees who they stay in the company.
Not only that, and it is that Elon Musk put his words in context talking about a current company valuation of about $20 billionassuming a loss of 24,000 million like that out of nowhere, surely as result of their own decisions since he took control of Twitter.
Very probably exaggerating also confirmed that the company’s horizon is clear and what do you see “a difficult road” but feasible towards a $250 billion valuationsomething that would multiply by 10 the current value of the shares delivered to its employees, which they will be able to sell their packages every six months just as it happens in SpaceX and Tesla.
What Elon Musk is not talking about is that at the beginning of 2023 Twitter’s daily revenue was 40 percent lower those of January 2022 due to the flight of advertisers, which stampeded including more than 500 major partners of the company. We will see how Twitter moves in the coming months, but the flight of users to Mastodon has been enormous and although some are surely returning it will be difficult to put in order everything that was Twitter and what it will be in the future controlled by a brilliant but crazy mind like Elon Musk’s.