Twitter's value has fallen by $25bn since takeover by Elon Musk – The Telegraph

Elon Musk has told Twitter staff that the social media company’s value has fallen to $19bn (£15.6bn), marking a significant reduction from the $44bn he paid for the business last year.The new figure emerged in an internal memo that laid out plans to award employees equity in the business at $45 per share, as first reported by Fortune.This figure is significantly lower than the $54.20 a share deal that Mr Musk agreed to in October 2022 and comes after a turbulent 12 months for Twitter, which has since rebranded as X.Since taking over the platform, Mr Musk has been on a crusade to drive increased revenues after a steep decline in advertising sales.The take-private deal was aimed at boosting free speech on the site, as Mr Musk overturned bans on thousands of accounts previously blocked for breaking the social network’s rules.However, fears of a rise in hate speech led to advertisers abandoning Twitter in their droves.Mr Musk said in July that Twitter would post roughly $3bn in revenues for the year, down from around $4.4bn in 2022.Since his acquisition, Mr Musk has slashed thousands of jobs in a bid to reduce costs, while also introducing new fees.His attempted overhaul has
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