According to The Information citing people familiar with the matter, Twitter CEO Elon Musk (Elon Musk) stated in an email to Twitter employees that providing stock awards to Twitter employees at a valuation of about 20 billion U.S. dollars, the The valuation is less than half of the $44 billion it paid for Twitter, an acknowledgment that Twitter's market value is declining. Twitter has yet to comment on the news. Additionally, Musk expects Twitter to make less than $3 billion in revenue this year, and taking into account the company's $13 billion in debt, the $20 billion valuation implies 11 times this year's revenue, with an implied enterprise value of $33 billion Dollar.