Musk reckons Twitter is worth half as much as it used to be with his arrival

This was reported by The Information, citing its sources.

Journalists report that Twitter CEO Elon Musk offered grant shares worth around $20 billion in a letter to the social networking site's employees.

This estimate is less than half of the $44 billion that Musk paid to acquire Twitter, indicating a drop in the platform's value.

It's worth recalling that Musk bought Twitter in October 2022 for $44bn. After that, a wave of layoffs began.

He laid off a total of about 5,000 employees and set up a "hard" work environment for those remaining.