Five months ago, Elon Musk paid $44 billion for Twitter. He claims that it is currently worth…

Twitter’s current value, according to Elon Musk’s claim in an internal email, is $20 billion, which is significantly less than the $44 billion he paid for it five months ago.

According to an internal memo viewed by American news media, Elon Musk has estimated the current value of Twitter at $20 billion, which is less than half the $44 billion he spent for the social media network only five months earlier.The communication to staff members discussed a new equity incentive plan for the San Francisco-based business and the distribution of shares to workers at X Holdings, the parent company of Twitter since Elon Musk acquired it in late October.

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The platform is valued at $20 billion according to the compensation plan, which is just a little bit more than either Pinterest ($18.7 billion) or Snapchat’s parent firm Snap ($18.2 billion), both of which, unlike Twitter, are publicly listed.The aerospace company SpaceX and Tesla Inc.’s top executive, Elon Musk, both announced that Twitter will permit its staff to sell shares every six months.

An automatic response in the form of a poop emoji was generated in response to an email from AFP to Twitter’s communications team.Musk explains Twitter’s value’s severe decline in the internal email. According to him, the platform experienced severe financial problems to the point where it was almost insolvent.

Elon Musk stated in a tweet published to the site on Saturday that “Twitter was trending to lose about $3B/year.”He highlighted a $1.5 billion annual sales decline and a $1.5 billion debt service cost, saying that this left the company with “just 4 months of money.”Musk, who owns a majority of Twitter, simply added: “Extremely bad situation.”

He continued, “It looks like we will break even” in the second quarter of the year, as advertisers, many of whom had abandoned the site after the erratic billionaire acquired it, are again starting to do so.After assuming leadership, Elon Musk has drastically reduced the organization’s payroll from 7,500 personnel to under 2,000.Without elaborating on how long that might take, he wrote in the email that he saw a “clear but tough road” leading to a valuation of $250 billion.

Yet in yet another setback for the business, bits of Twitter’s source code were made public on the GitHub development platform, the latter revealed to AFP on Sunday, corroborating a New York Times article.