NEW YORK (Agencies): The New York Post reported that platform X, formerly known as Twitter, now has a 71% lower value than when Elon Musk acquired it in late 2022.
According to this media report, the investment group conducted the latest evaluation of the social network X on Monday.
The results of this evaluation by the investment group indicate that the value of X has decreased by 71% since its acquisition in 2022.
American billionaire Elon Musk purchased this social media giant (formerly Twitter) for $44 billion in 2022.
According to the New York Post, Musk had criticized Twitter deeply before taking over and rebranding the company, arguing that Twitter posed a threat to democracy and civilization.
Musk laid off thousands of employees in the early months of his leadership at X, and his tough decisions regarding advertisers were met with a wave of audience protests.
The New York Post’s report sheds light on the significant changes and challenges faced by the platform formerly known as Twitter under Elon Musk’s ownership.
