Elon Musk Offers Twitter Staff $20 Billion in Stock Grants.
Elon Musk has announced that Twitter employees will receive stock-based awards at a valuation of close to $20 billion, less than half of the $44 billion he spent to acquire the social media platform in October last year. Musk expressed optimism about the company's future and said that significant changes were required to prevent Twitter from going bankrupt. The new grants, which are separate from any legacy Twitter equity, will vest over a four-year period, and the company intends to offer a liquidity event in around a year during which time employees will be able to cash out some of their equity.