One year after the purchase of Twitter, which is now called X, by Elon Musk, the social media platform is worth less than half of that value. At the time, the billionaire acquired Twitter for $44 billion, but currently, X is valued at approximately $19 billion.
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According to information from The Verge, this value appeared in documents sent to X employees, representing a decrease of about 55% compared to Musk’s original purchase price.
Fidelity, one of Elon Musk’s investors who contributed $300 million to the Twitter acquisition, goes even further and claims that the platform is worth something between $15 billion and $16 billion.
