Elon Musk’s social media platform X, formerly known as Twitter, now has a value of around $19 billion based on recent employee equity compensation offers. This is according to a report by Fortune citing a screenshot of the company’s employee stock grant details.
In an email sent to staff on Monday, X offered restricted stock units (RSUs) to employees at a share price of $45. X earlier provided employees stock at a $20 billion valuation in March.
X had a turbulent year amidst Musk’s acquisition
The latest valuation comes after a tumultuous year for the social media platform. Musk acquired X in October 2022 for $44 billion after a complex back-and-forth negotiation process. Since taking over, the billionaire has enacted numerous changes, most notably rebranding Twitter to X.
Also read: Elon Musk to Demonetize X Posts Corrected by Community Notes
Most recently, Musk announced modifications to X’s creator monetization system, aiming to reward accurate tweeters over sensational ones.
Creators generating ad revenue from tweets fact-checked by the platform’s Community Notes feature will see reduced payouts. Musk claims this move should “maximize the incentive for accuracy over sensationalism.”
While Musk’s changes have been controversial, the share valuation signals confidence in X’s new direction as it transitions to numerous changes under the Tesla CEO. Whether this optimism will translate into long-term stability and growth remains to be seen.