According to legal filings, billionaire Elon Musk is seeking information on the person responsible for the Twitter source code being leaked online.
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Twitter employees will be granted stock awards based on ~$20B valuation which is less than half of the $44B price that he acquired the company for in 2022.
Seeking Alpha reports that the awards will start to vest after six months and will vest over four years; company plans to offer a liquidity event roughly a year from now, in which employees can cash out some of their equity.
Published reports cited a mail by Tesla CEO Elon Musk which said, “I see a clear, but difficult, path to a >$250B valuation,” meaning stock granted now would be worth 10 times more.
Mr. Musk also said in the email that Twitter is being reshaped so rapidly that the company can be thought of as an inverse startup. He said radical changes have been necessary in part to ensure that Twitter didn’t go bankrupt.
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As The Epoch Times’ Tom Ozimek reported earlier, parts of Twitter’s source code have been leaked and the social media platform owned by billionaire Elon Musk is seeking information on the person responsible, according to legal filings.
After a measure was enacted on Thursday, Utah has become the first US state to require social media firms to get parental consent for children to use their apps and verify that users are at least 18.
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