The New York Times ran a piece on the current valuation of Twitter. The title of the article “Elon Musk Values Twitter at $20 Billion”. The author had requested comment from Twitter from the communication depart and received a reply with poop emoji.
YouTuber Dave Lee shared a clip from the article along with the title. Twitter owner Elon Musk replied to Lee, “This is pure joy”.
Musk appears to find the response from his communication department hilarious.
The article also points out that Musk purchased the company for $44 billion which is more than double what Musk currently values the company at.
Musk purchased Twitter to make the platform more of a free-speech town hall. He has made some changes and plans to make more going forward.
Currently, the deadline for legacy blue check accounts to subscribe and keep their “blue checkmark” is April first. The move by Musk to make blue checkmarks a subscription has been controversial to those who had already attained them before he took over. However, other users who weren’t able to attain the special status were happy to pay the small fee for the checkmark as well as the other added benefits.
Many critics of Musk may celebrate the perceived drop in Twitter’s value. However, in our view, Musk knows what he is doing and is most likely looking to harvest tax loss benefits now, while building Twitter’s value back up over time.
Musk knew he had his work cut out for him when he purchased Twitter and has plowed forward on his mission.
Only time will tell if Musk can make back the valuation he has lost since purchasing the social media giant.
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