Elon Musk bought Twitter for IDR 698 T, now the price is this much Tech – 5 hours ago

Jakarta, CNBC Indonesia – Elon Musk could be said to have made a fraudulent investment by annexing Twitter last year for US$ 44 billion (Rp. 698 trillion). Now, the company which has changed its name to X is ‘only’ worth US$ 19 billion (Rp. 301 trillion).

Earlier this week, the remaining employees at

This price has decreased by 55% from Musk’s purchase price. The document explains that the company’s value per share is determined by the board of directors based on several factors.

After Musk annexed X, he said he wanted to overhaul the company’s compensation model similar to SpaceX, his company which operates in the rocket and satellite sector.

The mechanism is that shares are held privately, but employees can cash out to outside investors. This type of stock given to employees is called ‘restricted stock units’ or RSUs.

These RSUs accrue over a period of four years from the date they are granted and require a ‘liquidity event’, such as an IPO or sale of the company, to be taxed as income, internal documents state.

Since Musk bought it until recently, employees didn’t know about the company’s value. However, stock awards provide answers to their questions over the past year.

[Gambas:Video CNBC]