"Fidelity Slashes Twitter Valuation as Musk's Purchase Loses 71%"

Fidelity Investments has reported that the platform formerly known as Twitter, now referred to as X, has decreased in value by 71% since Elon Musk's acquisition in late 2022 for $44 billion. Despite the significant drop in valuation, Musk has been dismissive of advertisers threatening to leave the platform and has made drastic staffing cuts. His controversial leadership style and comments, including a response to an advertising boycott and an apology for endorsing an antisemitic conspiracy theory, have marked his tenure at the helm of X.