• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, May 15, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Twitter will provide stock awards to employees: Elon

by Prity Khanal
March 26, 2023
in News
Reading Time: 2 mins read
0
Twitter will provide stock awards to employees: Elon
TwitterWhatsappLinkedin

According to an email analyzed by The Wall Street Journal, Musk claimed that Twitter Inc. workers will be given stock awards based on a worth of about $20 billion, which is lower than 50% of the $44 billion that he spent for the firm last year.

You might also like

Top CEOs Join President Trump for High-Profile Dinner with Saudi Crown Prince

Trump Pushes Back on Apple’s India Manufacturing Plans, Urges Focus on U.S. Production

Trump Claims India Offered ‘Zero Tariffs’ Deal; India Plays It Close to the Vest

Mr. Musk in a note to staff said he was optimistic about the social-media company’s future. “I see a clear, but difficult, path to a >$250B valuation,” meaning stock granted now would be worth 10 times more, he said.

In the mail, CEO Elon Musk added that Twitter is shifting so rapidly that the firm “can be thought of as an inverse startup.” According to the mail, he claimed that major changes were required in order to avoid Twitter from going out of business.

Elon MuskPhotographer: Marlena Sloss/Bloomberg

The updated worth represents the struggles Twitter has endured after Elon Musk took over the business. Twitter’s primary revenue stream was endangered when several leading brands quit advertising on the site, however, the firm has been attempting to attract clients back. Platformer and the Information both reported previously in the mail.

Several of the co-investors that supported Mr. Musk’s acquisition of Twitter, Fidelity, wrote down 56 percent of its Twitter holdings in November, according to public filings.

Twitter informed workers that it is giving additional equity incentives to employees, which will commence vesting after 6 months, in a separate email sent late Friday that’s been examined by the WSJ.

According to the mail, the company is planning to hold a liquidity event in about a year during which period workers will have the opportunity to cash out a portion of their ownership. No data was accessible regarding the number of staff members who got equity awards.

Since Mr. Musk’s controversial purchase of Twitter last year, workers have had a lot of inquiries, including those about payment. According to ex-employees, Twitter frequently provided stock grants as a component of staff pay that vested over time. At several tech organizations, stock-based pay has proven to be an effective method of attracting personnel.

Twitter’s press email answered an inquiry for comment with a poop emoticon, which Elon recently tweeted will be the company’s default response to media queries.

The new awards, which are distinct from and in addition to any heritage Twitter stock that was exchanged for money at the time of the purchase in October 2022, will vest over a four-year period, as stated in the email.

According to public filings, Twitter spent probably $630 million on stock-based incentives in 2021, the last full year it stated publicly financial statements before going independent. That same year, the firm hired over 7,500 people full-time.

Following Mr. Musk’s purchase, there were several series of job cuts and other departures; the firm has not yet revealed the exact amount of staff that it currently employs. In December, Mr. Musk claimed that the company had around 2,000 fewer workers.

According to a regulatory filing, when Elon purchased Twitter for $44 billion in October, the firm declared that equity incentives to workers would be changed into the right to earn money at the acquisition cost of $54.20 per share.

But, as Twitter became a private entity, staff remained to have concerns regarding how it would regulate payroll.

 

Tags: #ceooftwitter#ELON_MUSK#incentive#Regulator#Wall_Streetinvestorsstafftwitter
Tweet54SendShare15
Previous Post

You can now buy the Samsung Galaxy M53 5G for just Rs. 3999

Next Post

Edtech major Byju’s set for USD 22 billion valuation in new funding round

Prity Khanal

Prity is a content writer whose passion lies in writing to inspire others. She specialises in the field of law. With a curious mind and love for research and proficiency in creating informative narratives, she has specialised in tech, crypto, and is up-to-date with current market changes and flexible in various other fields.

Recommended For You

Top CEOs Join President Trump for High-Profile Dinner with Saudi Crown Prince

by Thomas Babychan
May 15, 2025
0
Top CEOs Join President Trump for High-Profile Dinner with Saudi Crown Prince

During his recent visit to the Middle East, U.S. President Donald Trump held a high-level dinner in Saudi Arabia that brought together some of the most influential business...

Read more

Trump Pushes Back on Apple’s India Manufacturing Plans, Urges Focus on U.S. Production

by Ishaan Negi
May 15, 2025
0
Trump’s “Liberation Day” Tariffs See Last-Minute Adjustments: 14 Countries Hit with Slightly Higher Levies

In a surprising and politically charged statement, former U.S. President Donald Trump has criticized Apple CEO Tim Cook over the tech giant’s growing manufacturing footprint in India.

Read more

Trump Claims India Offered ‘Zero Tariffs’ Deal; India Plays It Close to the Vest

by Ishaan Negi
May 15, 2025
0
Trump Declares BRICS “Broken Up” Amidst Threats of 100% Tariffs

During a business engagement in Qatar, former U.S. President Donald Trump made a striking claim: India has offered the United States a trade deal with “zero tariffs.”

Read more
Next Post
Edtech major Byju's set for USD 22 billion valuation in new funding round

Edtech major Byju's set for USD 22 billion valuation in new funding round

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?