Twitter
According to a Wall Street Journal story, Twitter’s CEO Elon Musk stated that the staff members would earn stock-based rewards valued at close to $20 billion. This is less than half of Mr. Musk’s $44 billion investment in the social media platform in October of last year.
In a message to employees, Mr. Musk voiced confidence in the social media company’s future. He implied that shares awarded now would be worth ten times more by saying, “I see a clear, but tough, route to a >$250B valuation.”
According to Mr. Musk’s comments in the email that the outlet has reviewed, Twitter is changing so quickly that the company “may be thought of as an inverse startup.” He said in the email that major changes were necessary, in part to keep Twitter from going Bankrupt. The Company informed its personnel that it is offering extra equity grants to employees, which will start to vest after six months, in a separate email issued to the team on Friday Also, the company announced that it will have a liquidity event in roughly a year during which time employees would be able to sell a portion of their shareholding.
Twitter spent almost $630 million on stock-based compensation in 2021, the final full year it reported financial results publicly before becoming private, according to regulatory filings.
