X Corp. told employees that the company is worth approximately $19 billion. This indicates that the value of Elon Musk's social media platform is still much lower than its acquisition price a year ago, despite a series of changes introduced by Musk.
According to an internal document seen by The Wall Street Journal, X will grant shares to employees based on a price of $45 per share. This means that X's valuation is approximately 55% lower than the starting price when Musk acquired the company for $44 billion in October 2022. In March of this year, Musk told employees that they would receive stock rewards based on a valuation of approximately $20 billion.
Fortune previously reported on the new stock grants and valuations mentioned above.
Musk has been working hard to transform X into what he describes as a global city square and a so-called universal application, where people can watch videos, handle banking business, and interact with others. He reduced approximately 80% of employees through layoffs and other means, relaxed the review of content, and comprehensively reformed the verification system.

X Corp. told employees that the company is worth approximately $19 billion. This indicates that the value of Elon Musk's social media platform is still much lower than its acquisition price a year ago, despite a series of changes introduced by Musk.
According to an internal document seen by The Wall Street Journal, X will grant shares to employees based on a price of $45 per share. This means that X's valuation is approximately 55% lower than the starting price when Musk acquired the company for $44 billion in October 2022. In March of this year, Musk told employees that they would receive stock rewards based on a valuation of approximately $20 billion.
Fortune previously reported on the new stock grants and valuations mentioned above.
Musk has been working hard to transform X into what he describes as a global city square and a so-called universal application, where people can watch videos, handle banking business, and interact with others. He reduced approximately 80% of employees through layoffs and other means, relaxed the review of content, and comprehensively reformed the verification system.
According to third-party data, this company, formerly known as Twitter, has been struggling with multiple metrics over the past year. Musk has repeatedly expressed optimism.
After many brands withdrew from the platform due to concerns about Musk's content review and management methods, the advertising business that provides the majority of the company's revenue has also struggled. Musk announced in September that the company's advertising revenue in the United States had decreased by 60%, but he said the situation was slowly improving.
In the documents related to the stock grant plan, the company also introduced its business strategy, stating that its goals include serving as a "de facto public square", promoting healthy speech, reducing spam and zombie accounts, improving services for advertisers to improve the accuracy of advertising placement, and improving video and audio tools for creators.
Musk stated in a notice to employees in March that he is optimistic about the future of this social media company. He said, "I see a clear but difficult path towards a valuation of over $250 billion." This means that the value of the stocks granted at that time will be more than 10 times that of today.
Musk also stated in this email in March that Twitter is rapidly being reshaped and "can be seen as a reverse startup". He stated that radical change is necessary to ensure that Twitter does not go bankrupt to some extent.
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