TECH - X's Value Takes A Nosedive Falling Below 50% Of Musk's Purchase Price: Report | Benzinga
The value of Elon Musk’s X (formerly Twitter) has reportedly declined to less than half of its purchase price, possibly due to his chaotic leadership and advertisers’ concerns about content-safety rules on the platform.
What Happened: Musk’s acquisition of Twitter was a headline-grabbing move last year when he shelled out a whopping $44 billion. However, it appears that a stark decline in value has overshadowed the initial enthusiasm.
According to someone who knows the situation, the company’s valuation stands at $19 billion, equivalent to $45 per share, based on the restricted stock units granted to employees, reported Bloomberg.
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