X’s Value Dropped By 79 Percent After Elon Musk Took Ownership After being owned by Elon Musk, the price of X (Twitter) is going down. According to one of the investors, Fidelity Blue Chip Growth Fund, according to a recent public report, the current price of the company is 78.7 per cent less than what Musk paid.
In April 2022, Musk bought Twitter for $44 billion. At that time, Fidelity invested 19.6 million dollars in X and bought shares. It is mentioned in the report that the value of the shares has now decreased to 5.5 million dollars. That is, now the total value of X is only 9 billion 40 million dollars.
Last year X earned two and a half billion dollars from advertising. This is less than half of X’s revenue in 2022. 70 to 75 per cent of X’s total income comes from advertising.
Although the value of X is decreasing day by day, Musk has not given any feedback about it. Instead, he published a report that active users on X are increasing. However, the report of the Financial Times shows that X users are decreasing in the US and the UK.
