November 16, 2022: -On Monday, Elon Musk announced that the employees of Twitter could continue to get the stock and options as part of an “ongoing compensation plan” despite the firm being private, according to an internal memo.

Musk said the stock plan would resemble the one in place at SpaceX, where he is even the CEO. SpaceX is also conducting secondary offerings regularly for long-time stockholders to deal with the equity, given that the firm has remained private for over 20 years since its founding.

SpaceX workers are granted their stock awards double in a year, on May 15 and November 15.

Elon Musk told Twitter employees that “exceptional amounts” of shares will be granted for “exceptional performance.”

The billionaire started a rocky takeover of the social media firm following his $44 billion acquisition on October 28. His leadership has been marked by massive layoffs, spending pauses from some advertisers and confusion about the platform’s policy changes.

When Musk first took over, some Twitter employees were concerned that he would hasten to fire them before a vital vesting date. Many were paid, however, before Musk implemented a massive workforce reduction.