“Elon Musk’s ‘X’ Sees a 71% Decrease in Value Since His Initial Purchase, According to Twitter Updates”
Elon Musk’s venture, formerly identified as Twitter and now referred to as company X, has encountered a noteworthy 71% decrease in its value since Musk assumed control in late 2022.
This reduction in worth marks the second occurrence in 2023, post-Musk’s acquisition of Twitter. Critical of Twitter’s impact on democracy, Musk acquired the platform for $44 billion and implemented substantial changes, including significant staff reductions.
Despite facing criticism from dissatisfied advertisers, who were displeased with the alterations, Musk continues to be vocal. He downplays concerns about advertising threats and steadfastly believes that the advertiser boycott will not have a detrimental impact on the company. This situation underscores the ongoing complexities and challenges associated with Musk’s management of the social media platform.
