Elon Musk puts $20 billion value on Twitter

Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.

The reported valuation is less than half of the $44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter’s value.

Twitter did not immediately respond to a Reuters’ emailed request for a comment.