Elon Musk has offered his Twitter employees stock awards based on a $20 billion valuation – less than half the $44 billion price he paid for it.<\/p>\n\n\n\n
In a note to staff, the billionaire expressed optimism about the social-media<\/a><\/strong> company\u2019s future. <\/p>\n\n\n\n He said: \u201cI see a clear, but difficult, path to a >$250B valuation” and suggested stock issued now would be worth 10 times more.<\/p>\n\n\n\n Read More: Elon Musk plans to create \u2018Texas utopia\u2019 for his employees<\/a><\/strong><\/p>\n\n\n\n Musk said Twitter is changing so quickly that it \u201ccan be thought of as an inverse startup.\u201d <\/p>\n\n\n\n He stressed to staff drastic changes were required to keep Twitter from going bankrupt.<\/p>\n\n\n\n Since Musk took over, several big advertisers<\/a><\/strong> have pulled their spending on the platform, which has proved a major threat to its major revenue source. <\/p>\n\n\n\n Read More: FTC looking to oust Elon Musk from Twitter, sources say<\/a><\/strong><\/p>\n\n\n\n Twitter said in court filings that parts of its source code were exposed online, raising security<\/a><\/strong> concerns for the company.<\/p>\n\n\n\n In a Friday, March 24 email, Twitter said it is giving new equity grants to staff, that will start to vest after six months.<\/p>\n\n\n\n The firm also intends to have a liquidity event in about a year, during which employees can cash out part of their equity.<\/p>\n\n\n\n The number of employees who got equity awards was not disclosed.<\/p>\n\n\n\n Employees have had many questions about compensation since Mr. Musk’s turbulent takeover of Twitter last year.<\/p>\n\n\n\n Need Career Advice?<\/strong> Get employment skills advice at all levels of your career<\/strong><\/a><\/p>\n\n\n\n Ex-employees said Twitter generally provided stock grants<\/a><\/strong>, which vested over several years, as part of the compensation. <\/p>\n\n\n\n In an email to employees in February, Mr. Musk said that Twitter would issue \u201cvery significant stock and other compensation awards, based on performance.\u201d <\/p>\n\n\n\n He informed staff in November that Twitter will continue to offer stock and that the plan would be comparable to what SpaceX provides.<\/p>\n\n\n\n He added: \u201cExceptional amounts of stock will be awarded for exceptional performance.\u201d<\/p>\n\n\n\n Source: <\/strong>The Wall Street Journal<\/strong><\/a><\/p>\n\n\n\n Follow us on YouTube<\/strong><\/a>, Twitter<\/strong><\/a>, LinkedIn<\/strong><\/a>, and Facebook<\/strong><\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Elon Musk offers Twitter employees stock awards based on a $20 billion valuation, less than half the $44 billion price he paid during the acquisition.<\/p>\n","protected":false},"author":5,"featured_media":25155,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2456,1372],"tags":[686,329],"class_list":["post-40148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-twitter-news","category-us-employment-news","tag-elon-musk","tag-twitter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/40148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/comments?post=40148"}],"version-history":[{"count":0,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/40148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media\/25155"}],"wp:attachment":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media?parent=40148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/categories?post=40148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/tags?post=40148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}