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Elon Musk Puts Twitter’s Value At $20bn

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Elon Musk has put the current value of Twitter at $20 billion, less than half the $44 billion he paid for the social media platform just five months ago, according to an internal email seen by American news media.

The email to employees referred to a new stock compensation program in the San Francisco-based company and the allocation of shares to employees of X Holdings, Twitter’s umbrella company since Musk purchased it in late October.

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The compensation plan values the platform at $20 billion, slightly more than Snapchat’s parent company Snap ($18.2 billion) or Pinterest ($18.7 billion), both of which are publicly traded, unlike Twitter.

Musk, who is also the chief executive of Tesla Inc. and aerospace group SpaceX, said that Twitter would allow its employees to cash in shares every six months.

READ ALSO: Elon Musk Reinstates Suspended Twitter Accounts Of Journalists

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A query from AFP emailed to Twitter’s communications department generated an automatic response in the form of a poop emoji.

In the internal email, Musk describes the brutal contraction in Twitter’s value. He says the platform faced such grave financial difficulties that at one point it was on the verge of bankruptcy.

“Twitter was trending to lose ~$3B/year,” Musk said in a message posted Saturday on the platform.

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He cited a revenue drop of $1.5 billion a year and a debt-servicing burden of the same amount — leaving it with “only 4 months of money.”

Musk, Twitter’s majority shareholder, added simply: “Extremely dire situation.”

But he then said that “It looks like we will break even” in the second quarter of the year, with advertisers — many of whom fled the platform after the mercurial billionaire bought it — now beginning to return.

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READ ALSO: FG Speaks On Banning Twitter Again After Elon Musk’s Takeover

Since taking control, Musk has sharply cut the group’s payroll from 7,500 employees to fewer than 2,000.

He said in the email that he sees a “clear but difficult path” to a valuation of $250 billion, without specifying how long that might take.

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However, in another setback for the company, fragments of Twitter’s source code were published on the development platform GitHub, the latter told AFP on Sunday, confirming a report by the New York Times.

GitHub removed the files from its site at Twitter’s request, but their brief exposure could allow hackers to identify flaws in Twitter’s original software.

AFP

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World Ocean Day: HOMEF Wants An End To Human’s Exploitative Relationship With The Ocean

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By Joseph Ebi Kanjo 

Health of Mother Earth Foundation (HOMEF) has called for an end to human’s exploitative, violent, and destructive relationship with the ocean even as the world marks World Ocean Day today, 8 June, 2025.

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In a statement issued by Kome Odhomor, Media/Communications Lead, HOMEF, to mark this year’s World Ocean Day with the theme: ‘Wonder: Sustaining What Sustains Us,’ the ecological think tank organisation said Ocean is not just a water but an ecosystems which “supply a substantial amount of oxygen to the atmosphere and offer various services that ensure the survival of all species on Earth.

“Climate change, primarily caused by human activities, is impacting the ocean. Dead zones are proliferating, pollution from minerals and fossil fuel extraction and production processes is occurring, unsustainable industrial fishing practices are occurring, intentional waste dumping is occurring, and disturbances of the ocean floor and seabeds are among a long list of destructive activities.

READ ALSO: World Environment Day: CEEAI Partners HOMEF For A Day Event

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“As ocean surface temperatures increase, global warming will also rise. Therefore, protecting the ocean from these forms of degradation would ultimately safeguard the Earth. Let’s protect the ocean and force others to respect it because we are the ocean; we are part of the ocean family.”

Odhomor, in the statement made available to INFO DAILY on Sunday, quoted the Executive Director of HOMEF, Dr. Nnimmo Bassey, as saying the World Ocean Day is celebrated annually on 8 June to underscore the immeasurable importance of the world’s ocean and garner support for their protection.

Bassey in the statement lamented that despite the importance, the ocean and other water bodies are continuously subjected to a barrage of assaults at local, national, and international levels.

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READ ALSO: HOMEF Decries Alarming Rate Of Malnutrition, Food Insecurity

“The concept that the ocean cycles itself and acts as a greenhouse gas sink has been misconstrued to mean that the ocean can filter and clean itself no matter what is dumped in it.

“The ocean and other waterbodies have become dumpsites of all sorts, polluting and extreme exploitation.

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“There are a lot of unusual activities going on in our waters that must not be allowed to continue if we want a healthy ocean and planet,” he noted.

Bassey further stated that “corporate interests have been substituted for national and people-centred interests, as communities that live along the coasts, bear the brunt of such abnormalities. Now is the time for all to rise to the occasion to protect the ocean. The continued burning of the Ororo Oil well over a period of five years is a sad commentary on ecocide on our waters.”

READ ALSO: World Earth Day: HOMEF Holds Climate Justice Assembly, Tasks N’Delta Activists On Unity

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Also lending his voice, Stephen Oduware, a Programme Manager with HOMEF and Coordinator of the Fishnet Alliance, a network of fishers across Africa, emphatically noted that the world’s fisheries depend on the ocean.

The two major sides of the ocean bordering Africa – the Atlantic and Indian, along with their associated gulfs, are experiencing shortfalls in fishing due to vested and powerful interests. Industrial fishing, including the use of bottom trawlers, is partly responsible for unsustainable fishing and illegal, unreported, and unregulated fishing in the region.

“These practices not only harm fisheries but also harm the ocean and create imbalances in the ecosystems the ocean supports. These unchecked activities in the territorial waters of Africa must stop. Fishers of the world unite,” he noted.

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Edo Rep Member Distances Self From Cultism, Says Allegation Politically Motivated

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By Joseph Ebi Kanjo

Hon. Marcus Onobun, member representing Esan West, Esan Central and Igueben Federal Constituency in the House of Representatives, has described as false the rumours making the rounds that he’s involved in Cult-related activities in Iruekpen, Esan West Local Government Area of Edo State.

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The Edo rep member, in a disclaimer titled: ‘Re: Disclaimer on Alleged Cult-related Issues in Iruekpen’, which was made available to INFO DAILY on Sunday, said the allegations of his involvement in cultism were not only “false and baseless, unfounded but they also appear to be politically motivated, attempts to tarnish my hard-earned reputation, distraction from the developmental strides we are making, and undermine the trust and confidence the good people of Iruekpen and beyond have reposed in me.”

He stressed, “For the avoidance of doubt, I am not directly or indirectly involved in cultism nor have I ever supported, encouraged, financed, or participated in any activity that promotes it in any form whatsoever.”

READ ALSO: Police Arrest 28 Suspected Cultists In Edo

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Hon. Onobun, who stated that the last time he visited Edo State was 22nd April, 2025, noted that the allegation was to “lay a foundation for their wicked and clandestine plan to silence the opposition.”

He explained that though he got information from a reliable source that there was a clash in the community (Iruekpen) between two indigenes, such clash was never bear his residence but in a brothel.

“I am a firm believer in the rule of law, democratic principles, and peaceful co-existence,” he said.

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The Edo rep member, while stating that security and safety of his constituents top is priority, urged the “media and the general public to exercise due diligence and verify facts before spreading information capable of causing panic and reputation damage.”

READ ALSO: Alleged Cultism: NBA Warns Against Suspects’ Rights Violation In Edo

The security and safety of our people tops my priorities as a federal lawmaker, as no development sees the light of the day in an unsafe environment, thus, the recently commissioned Police station in Iruekpen community,” he added.

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Onobun urged “those behind these malicious fabrications,” to “desist from the politics of character assassination,” noting that “our community deserves leaders and citizens who promote unity, progress, and constructive dialogue not divisiveness and falsehood.”

He added: “I remain committed to the service of my people and to the peace, growth, and development of Iruekpen as my immediate community and the entire federal constituency at large. No amount of smear campaigns will deter me from fulfilling my mandate and standing for truth, justice, and good governance.”

 

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Democracy Day: FG Declares June 12 Public Holiday

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The Federal Government has declared Thursday, 12th June, 2025 as Public Holiday in commemoration of this year’s Democracy Day celebration.

Permanent Secretary in the Ministry of Interior, Dr Magdalene Ajani in a statement on Sunday in Abuja said the Minister of Interior, Dr Olubunmi Tunji-Ojo, made the declaration on behalf of the Federal Government.

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The minister congratulated Nigerians on the occasion of 26 years of uninterrupted civil rule.

READ ALSO:June 12: Jonathan, Others Mount Pressure On Tinubu To Reinstate Fubara

He said; “June 12 represents our historic journey to building a nation where truth and justice reign and peace is sustained and our future assured.

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“The last 26 years tells the story of our resilience, strength and courage and a hope Renewed than ever.”

Noting that democracy is sustained with open doors for further improvement, the minister reiterated the commitment of the Renewed Hope government of President Bola Tinubu to the universal value of democracy, based on freely-expressed will of the people in determining Nigeria’s political, economic, social and cultural systems.

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