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18 Nov 2022
According to a Report, Twitter Employees Will Continue to Receive Stock Compensation Under Musk
Elon Musk's latest message to Twitter employees, states that employees will continue to receive stock and options as part of an "ongoing compensation plan." This results from Twitter now being a private company and Musk's turbulent takeover.
In his message shared through a private memo to Twitter staff on Monday, the billionaire noted that the company's stock plans would be akin to the system adopted at his private space exploration firm, SpaceX. The company holds regular stock splits to allow longtime investors to cash in.
Consumer News and Business Channel (CNBC), which obtained a memo Elon Musk wrote to SpaceX employees, noted that SpaceX staff members are now given their stock awards two times per year: one at the beginning of May and another on the 15th of November.
"Even though Twitter is now a private company, we will continue to provide stock and options as part of our ongoing compensation plan. The stock plan will be much like that of SpaceX, which has been very successful. As with SpaceX, exceptional amounts of stock will be awarded for exceptional performance," Musk added in the memo.
Musk's message suggests that Twitter's atmosphere could be settling down, and it somewhat echoes sentiments he conveyed last Friday in a companywide email.
He noted in his Friday email that Twitter employees worked long hours and attended his San Francisco headquarters with him. A quick shoutout was given to some of the company's remote workers, whose work has been particularly hard recently.
"I was at Twitter HQ again until late into the night yesterday and would like to extend a note of appreciation to those who were there with me, as well as those working remotely, some of whom had been up even longer," Musk wrote in an email on Friday.
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