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submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

X says it is worth $19 billion, down from $44 billion last year::The social media company’s valuation was disclosed in the paperwork for stock grants that it handed to employees on Monday.

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[-] photonic_sorcerer@lemmy.dbzer0.com 92 points 8 months ago

Elon truly is one of the businessmen of all time.

[-] Joker@discuss.tchncs.de 3 points 8 months ago

This means he won’t have to pay income tax for a while. Maybe ever.

[-] 1847953620@lemmy.world 3 points 8 months ago

love it when he said "it's businessin' time!"

and then he businessed all over the place

[-] RamSwamson 1 points 8 months ago* (last edited 8 months ago)

All the comments under you says there’s a meme attached to your comment but I don’t see it no meme

[-] photonic_sorcerer@lemmy.dbzer0.com 4 points 8 months ago

When I said "one of the businessmen of all time" that sentence is a play on "one of the best businessmen of all time". The above phrase is a meme. Memes are not limited to funny pictures.

[-] RamSwamson 1 points 8 months ago

Damn, I certainly read way too much into it, I was convinced I was missing something.

[-] cheese_greater@lemmy.world 1 points 8 months ago

Is this you or did you get that somewhere. I love it "irregardless"

[-] raptir@lemdro.id 6 points 8 months ago

Know your meme doesn't have any real info on it, but the first time I remember it is people posting about Morbius on Reddit, "Morbius is certainly one of the movies of all time."

[-] cheese_greater@lemmy.world -3 points 8 months ago

Its one of those things that doesn't follow the script and there's like no way to respond to it in real-time unless you have latitude for like a playful back-and-forth between two super perky morning talk show hosts or something

[-] photonic_sorcerer@lemmy.dbzer0.com 6 points 8 months ago

Its a meme. No idea where or when it started.

[-] ExLisper@linux.community 1 points 8 months ago

It's a meme! Mario!

[-] cheese_greater@lemmy.world 0 points 8 months ago

Its so oblique, luvvit

[-] d3Xt3r@lemmy.nz 67 points 8 months ago

$19bil is still way too overestimated. I'd laugh at anyone who pay this much if Musk ever decided to sell.

[-] TropicalDingdong@lemmy.world 12 points 8 months ago
[-] bobs_monkey@lemm.ee 21 points 8 months ago
[-] LEDZeppelin@lemmy.world 19 points 8 months ago

$2 and I want that sink put be back where the Apartheid Lon took it from at owner’s expense.

[-] Nastybutler@lemmy.world 35 points 8 months ago

He called it an "inverse startup". So, a shut down?

[-] Asudox@lemmy.world 1 points 8 months ago
[-] NoSpiritAnimal@lemmy.world 17 points 8 months ago

Yes well I'm worth Eleventy-Billion, down from a historic high of Biggilty-Billion.

[-] 1847953620@lemmy.world 4 points 8 months ago* (last edited 8 months ago)

I'm worth schfifty-five.

[-] Gazumi@lemmy.world 15 points 8 months ago

Musk fanboys are so very excited. They are waiting for his last minute genius move to explain his super smart strategy. I'm not holding my breath

[-] Stalinwolf@lemmy.ca 14 points 8 months ago

WuuUuuhhh?! But it has such a cool name now, duuude! 😎

[-] AbidanYre@lemmy.world 13 points 8 months ago

Did Elon make a Brewster's Billions bet with the Saudis or something?

[-] Treczoks@lemmy.world 11 points 8 months ago

As long as they still operate, they have too much money on their hands.

[-] Decentralizr@lemmy.world 10 points 8 months ago

Bird killer! That’s why! Never kill off birds! Or how he called it X’ed them

[-] scops@reddthat.com 1 points 8 months ago

Who knew Larry the Bird was an albatross the entire time

[-] autotldr@lemmings.world 8 points 8 months ago

This is the best summary I could come up with:


X, the company formerly known as Twitter, handed out stock grants to employees on Monday that showed it was worth about $19 billion, down about 55 percent from the $44 billion that Elon Musk paid to buy the firm a year ago, according to internal documents seen by The New York Times.

In March, he wrote in an email to workers that he believed the company was worth $20 billion, calling it “an inverse start-up.”

Employees will still be paid in cash in the amount of $54.20 for any outstanding shares that were granted to them under previous management, the company said.

In his year of owning Twitter, Mr. Musk has overhauled the company and the social media platform.

Advertising, the company’s main source of revenue, was down in the United States by almost 60 percent this summer.

Last week, in a company meeting celebrating the first anniversary of the deal, he laid out how he believed X could serve as an all-purpose app with an array of features, including dating services and job recruiting, according to a recording obtained by The Times.


The original article contains 456 words, the summary contains 183 words. Saved 60%. I'm a bot and I'm open source!

[-] Etterra@lemmy.world 7 points 8 months ago

$19 billion, or $49 billion in Trump Fantasy Bucks.

[-] Shardikprime@lemmy.world 2 points 8 months ago

I mean that's the reason why they call them unrealized gains. Valuation can tank

[-] GiddyGap@lemm.ee 2 points 8 months ago
this post was submitted on 06 Nov 2023
196 points (90.5% liked)

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