$68 Billion Investment in Twitter (Now Called X) Faces $39 Billion Loss

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Despite a $68 billion investment by Elon Musk, Twitter (now called X) has advised employees of a new $29 billion valuation, indicating a significant loss. Usage has dropped among long-term account holders, resulting in a 10% loss of Musk's net worth. However, traffic to Elon Musk's profile on X has increased by 96% year on year.

$68 billion investment in Twitter is a long way from paying off, with the company advising employees of a new $29 billion valuation when issuing employee shares this week.

It's the first clear sign that Musk's investment has gone downhill since his acquisition, despite a huge drop in usage by many long-term account holders. The $39 billion loss is around 10 per cent of Musk's net worth, which is tied up in his shares in both Tesla and SpaceX as well as other investments.within the company who have been given shares in the business as a part of their employment at a share price of US$45 to make a US$19 billion valuation.

According to online traffic estimates from SimilarWeb, traffic to X on the web was down 14 per cent since Musk's takeover, while mobile performance was worse, down 17.8 per cent worldwide. The only metric going up for X is the amount of traffic to Elon Musk's own profile, up 96 per cent year on year.That platform has gained 100 million active monthly users and is becoming a preferred platform for many previous X users.

 

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