Elon Musk memo suggests Twitter worth less than half of what he paid for it

Calculation based on leaked offer to staff that implies firm valued at $2obn compared with $44bn he paid for it

Twitter is worth less than half of what Elon Musk paid for it six months ago having lost more than $20bn (£16.4bn) in value, according to calculations based on a leaked memo from the billionaire.

Musk suggested in memo to the social media company’s staff that it is now valued at less than $20bn. This compares with the $44bn he paid for it in October 2022.