TECH - Did Elon Musk Just Admit That Twitter's Value Is Down By 90% After His $44B Acquisition? | Benzinga
Elon Musk's $44 billion acquisition of Twitter (now X) has been mired in controversies, but his latest admission could be a sign of just how bad it has turned out for him so far.
What Happened: In his ongoing rant against Jewish-led civil rights organization Anti-Defamation League (ADL), Musk may have inadvertently admitted that X has lost at least 90% of its value, or nearly $40 billion.
"I don't see any scenario where they're responsible for less than 10% of the value destruction, so ~$4 billion," he said.
Based on what we've heard from advertisers, ADL seems to be responsible for most of our revenue loss.
Giving them maximum benefit of the doubt, I don't see any scenario where they're responsible for less than 10% of the value destruction, so ...