UNITED STATES: Elon Musk, the CEO of Twitter, has recently offered stock grants to the company’s employees at a valuation of nearly $20 billion.
This figure is significantly less than the $44 billion that Elon Musk paid to acquire the social media platform, as per the reports in The Information.
Despite this drop in value, Elon Musk remains optimistic about Twitter’s future, stating that he sees a clear, but difficult, path to a valuation greater than $250 billion.
The lowered stock grant valuation has been linked to Twitter’s reduced value, which may have resulted from a decrease in spending by top advertisers following Musk’s takeover. In December, Musk predicted that Twitter would break even in terms of cash flow by 2023.
Despite the challenges that the company faces, Musk appears confident in his ability to turn things around.
In a recent email sent to Twitter employees, Elon Musk communicated new policies regarding remote work. The email, which was reportedly sent in the early hours of the morning, stated that “office is not optional.”
This implies that remote work may no longer be allowed for Twitter employees. While this move may come as a surprise to some, it should be noted that Musk has a history of mandating strict policies at his companies.
For instance, he previously mandated a minimum of 40 working hours per week for Twitter employees, stating that those who do not show up will be assumed to have resigned.
This policy attracted criticism from worker advocates, who pointed out the potential exposure to COVID-19.
However, it should be noted that Twitter had already established a flexible remote work arrangement before Musk’s acquisition.
This raises the question of whether Musk’s policies are aimed at improving the company’s culture and productivity or are simply an attempt to exert control over the organisation.
It remains to be seen how Musk’s policies will impact Twitter’s future, but one thing is clear: he has a vision for the company’s success.
Elon Musk is known for taking bold risks and making unconventional moves, and his leadership style may be what Twitter needs to overcome its challenges and become a major player in the social media industry.
Whether his policies will be successful or not, Musk’s influence on Twitter is undeniable, and his impact on the company’s future cannot be overlooked.
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