Internal letter reveals that Twitter is now worth about $20 billion, Elon Musk plans to make it more than 10 times

According to Zoë Schiffer, the news editor-in-chief of Platformer, Elon Musk revealed in an internal memo that the current market value of Twitter is around $20 billion and that his goal is to shape Twitter into a company with a market value of $250 billion.

As per the internal memo, Elon Musk is preparing to offer stock incentives to internal staff based on the company’s market value, which is currently around $20 billion. Zoë Schiffer further revealed that the funds for this stock incentive will be provided by X Control, the current parent company of Twitter.

Photo by Alexander Shatov on Unsplash

The internal memo also states that Elon Musk expects Twitter’s market value to grow to the scale of $250 billion, which implies that the current growth offered by stock incentives will be more than 10 times.

In the internal memo, Elon Musk also mentioned that the company needs to undergo a severe transformation to avoid bankruptcy and reshape Twitter.

Moreover, Elon Musk also revealed that advertisers have begun to return and that positive profits are expected to be restored in the second quarter of this year.