Elon Musk, the CEO of Twitter, has issued stock grants to staff, valuing the company at around $20 billion.
The stock grants are contained on an email Musk sent to staff of Twitter.
However, the valuation falls below of the $44 billion at which Musk acquired the social media platform.
Many advertisers abandoned the platform after Musk bought it last year.
The billionaire’s acquisition of Twitter on October 28, 2022 has been mired in controversy. He soon after with sackedmost of the company’s top executives , including CEO Parag Agrawal, chief financial officer Ned Segal, and chief legal officer Vijay Gadde.
He also laid off more than of half of the company’s 7,500-strong workforce.
Since Musk’s takeover, the platform has experience an increase in more hate speech, challenges in acquiring the blue check verification, and problems with the app’s features.