Grapevine

By Punch
Oct 3, 2024

Elon Musk’s X lost nearly 80% of its value since acquisition – Report

Musk acquired X for $44 billion in October 2022, but Fidelity’s latest evaluation suggests the platform is currently valued at just $9.4 billion.

CNN reported on Wednesday that analysts believe the sharp drop in X’s valuation reflects ongoing struggles with ad revenue, which has been a persistent issue under Musk’s ownership.

Since taking the company private, X no longer publicly releases financial reports, adding to the uncertainty.

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Elon Musk’s X lost nearly 80% of its value since acquisition – Report

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Elon Musk’s X lost nearly 80% of its value since acquisition – Report

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