Report: Elon Musk Says Twitter Is Valued At Less Than Half of What He Paid For It Just Days After Sending Frantic Email to Employees at 2:30 A.M. The billionaire purchased the social media platform for an estimated $44 billion.

By Emily Rella

Getty Images

Things over at Twitter HQ seem to be in disarray, according to multiple internal documents viewed by Platformer over the past few days.

A leaked memo from last Wednesday, viewed by Platformer's managing editor Zoë Schiffer, revealed that Musk sent an email to employees around 2:30 a.m. telling them that the office was "not optional" while noting that Twitter's HQ in San Francisco was half empty the day prior.

The message was not unexpected, as Musk made it clear almost immediately upon his takeover of the social media platform that he expects employees to work "in office a minimum of 40 hours per week" and that "remote work is no longer allowed unless you have a specific exception."

Related: Elon Musk Slams Twitter Employees With Ultimatum: Prepare to Work 'Extremely Hardcore' or Leave by Thursday

Just days after last week's reminder, another internal memo leaked that shows how ominous things are at Musk's "Twitter 2.0."

According to the internal document, Musk said that employee stock grants are to be based on what he estimated to be a $20 billion valuation for the company — less than half of what he paid for it (an estimated $44 billion) last fall.

Schiffer explained that Musk's ultimate goal is to get Twitter to a $250 billion valuation (tenfold from where it is now) and told employees that there's a "clear but difficult path" to get there, simultaneously nodding to the changes the company has implemented over the past five months.

He also said that Twitter was on the path of an "inverse startup," which would align with the mass layoffs and the arduous hours employees have been working, with some even sleeping inside the office to maximize productivity.

Related: 'First Day of the Rest of Your Life': More Twitter Layoffs Hit, Including Esther Crawford Who Slept In Office In Sleeping Bag

On top of all the internal drama, a lawsuit filed by Twitter at the beginning of the weekend confirmed that part of Twitter's source code (the backend code that runs the platform for use) had been leaked online by a rogue user on internet hosting platform Github.

The filing asked for Github to remove the posting, which it did. It also asked the court to provide personal information (names, IP addresses, phone numbers) associated with the user profile that posted the source code, ironically named "FreeSpeechEnthuisast."

Musk did not publicly comment on either of the leaks.

Wavy Line
Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
Lock
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
Lock
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
Lock
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

After Being Told They Could Work From Home Forever, Employees Made Major Life Changes. Then, a New CEO Ordered Them Back to the Office.

Farmers Group CEO Raul Vargas is facing backlash for the change, but he says being in the office brings more "collaboration" and "innovation."

Business Ideas

The 13 Best Jobs for People With ADHD

Want to find the perfect profession as a person with ADHD? Check out this review of the best jobs for people with ADHD if you need ideas.

Business News

Pete Davidson Says He's 'Figuring It Out' After Buying a $280,000 Boat While 'Very Stoned'

The former "Saturday Night Live" star purchased a used Staten Island Ferry with Colin Jost in January 2022.

Starting a Business

Free Event | June 27: Get the Answers to Your Solopreneur Challenges

Running a one person business is challenging, but we're here to help you. Tune into our video series, Solopreneur Office Hours, as our expert, Terry Rice, answers your most pressing questions.

Business News

Hedge Fund Pays NYC Interns $20,000 a Month on Average, Sent to Lavish Palm Beach Kickoff

Citadel is known for its over-the-top parties and company retreats.