Musk believes Twitter will rise to $250bn, but so far the company has halved in price and is worth $20bn

Twitter's value has more than halved since the change in ownership. New CEO Elon Musk has admitted this.

Here's What We Know

The American billionaire announced plans to buy Twitter about a year ago for $44 billion. Since then, he has wanted to bring down the share price. The company is now, according to Elon Musk's own estimates, worth more than half as much. However, there is an important nuance.

Twitter got a new owner at the end of 2022. But the court forced Elon Musk to pay out $44bn. Less than six months later, the company's market capitalisation has fallen by $24bn and now stands at $20bn.

After Elon Musk bought the company, it lost some of its advertisers, resulting in a drop in revenues. Twitter is solving the problem with Blue subscriptions starting at $8, but the number of users who sign up for them leaves a lot to be desired. However, Musk believes that in the future the value of the company will increase to $250 billion.

Source: The New York Times, Reuters