Elon Musk's Twitter Renamed X Suffers 71% Valuation Drop Since Acquisition
TL;DR Summary
Fidelity Investments, a shareholder in Elon Musk's X Holdings (formerly Twitter), reported a 71.5% decrease in the company's value since Musk's acquisition in October 2022, now valuing it at approximately $12.5 billion. This follows a series of controversies under Musk's leadership, including increased hate speech on the platform and the loss of major advertisers. Additionally, X recently failed to block a California law requiring social media companies to disclose content-moderation policies, adding to the platform's challenges.
- Elon Musk’s X Worth 71.5% Less Than When He Bought Twitter, Says Fidelity Rolling Stone
- Fidelity fund again trims Elon Musk’s X valuation CNN
- Value of X has fallen 71% since purchase by Musk and name change from Twitter The Guardian
- Since Elon Musk's Twitter purchase, firm reportedly lost 72% of its value Ars Technica
- Elon Musk's X gets another valuation cut from Fidelity Axios
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