Twitter employees will still receive stock compensation under Musk: report

Credit: @BigImpactHumans/Twitter

A new message from Elon Musk to Twitter employees has revealed that the social media company’s workers can continue to receive stock and options as part of an “ongoing compensation plan.” This is despite Twitter now being a private company following Musk’s turbulent takeover. 

Musk’s message, which was shared through an internal memo on Monday, noted that Twitter’s stock plan would be similar to the system adopted by his workers at his private space company, SpaceX, which is currently dominating the US’ launch sector. SpaceX conducts regular secondary offerings as a means for longtime shareholders to sell equity. 

CNBC, which was able to view Musk’s memo to Twitter employees, has noted that SpaceX employees are currently given their stock awards two times per year. One award gets released on May 15, and another gets granted on November 15. 

“Even though Twitter is now a private company, we absolutely 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 wrote. 

In a way, Musk’s message hints that the atmosphere at Twitter could be settling down, and it somewhat echoes sentiments that he shared in a companywide email last Friday. In his Friday email, Musk thanked some of Twitter’s employees for working long hours and joining him at the company’s San Francisco headquarters. He even gave a quick shoutout to some of the company’s remote workers, who he noted have been working extra hard as of late.

“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 his Friday email. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Twitter employees will still receive stock compensation under Musk: report
To Top