X IS OFFICIALLY WORTH LESS THAN HALF OF WHAT ELON MUSK PAID FOR IT

Summary from the TLDR newsletter

X employees were awarded equity in the company at a valuation of $19 billion on Monday. At $45 per share, X's self-assessed value is at a 55% discount to Musk's original purchase price. The equity is in the form of restricted stock units, so employees will have to wait for a liquidity event to sell them. Employees will have to pay tax on any sales as income.