After long debates Elon Musk finally bought Twitter but things did not go as planned. It looks like the company has been having hard times. Musk changed many things on the platform starting with Bluchecks. The feature became a paid one but it was protested a lot. After some changes withing the platform huge layoffs started to take place.
Twitter's value drops from $44 billion to $20 billion
When Elon Musk bought the company, it was worth $44 billion. Now, the company is worth very little. An email obtained by The Information and The New York Times claims that Elon Musk has valued Twitter at approximately $20 billion. On Friday, the memo was sent to Twitter employees to announce a new program for stock compensation. Additionally, Musk stated that he sees a "clear but difficult path" to achieving a valuation of $250 billion, which would make the present stock grants ten times more valuable in the future.
Social media platform has been having hard times due to many reasons, and things will not go smooth for a long time. Musk stated the value has been going down and he also step down from being the CEO of the company.