An internal document seen by US media showed that Elon Musk currently estimates the value of Twitter at $20 billion, after the estimated value was $44 billion when he acquired the social network 5 months ago.
The internal message addressed to employees relates to sharing profits within the group, and to the allocation of shares in the “X Holdings” company that oversees “Twitter” since its acquisition at the end of last October, and the share distribution program estimates the value of the platform at $ 20 billion, an amount close to the value of the capital. The money is in Snap, the parent company of Snapchat ($18.2 billion), or the Pinterest network ($18.7 billion), both listed companies.
In the internal document, according to Agence France-Presse, Musk attributes the significant decline in the estimated value of the company to the financial difficulties faced by Twitter, which was close to bankruptcy at a certain stage.
“It was expected that (Twitter) would lose $ 3 billion annually,” Musk wrote in a message posted on the platform on Saturday.
In addition, parts of the source code for Twitter were published on GitHub, according to what this platform dedicated to informatics developers announced on Sunday, confirming information published by the New York Times. At the request of the social network, GitHub pulled these files from its website, but just viewing them, albeit for a short period, may have allowed hackers to identify vulnerabilities in the basic programming on Twitter.
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