Twitter's value has dropped 71% in the Musk era

American investment company Fidelity announced that social network X has lost more than 71% of its value since it was purchased by billionaire Elon Musk in October 2022, Sarajevo Times reported.
Musk bought Twitter for $44 billion, and Fidelity, which owns a stake in the social network, valued it at $15 billion back in May last year. That's 1/3 of what Musk paid.
The American media believed that the previous year had been difficult for X and his relationship with advertisers. In July, Musk said the company was in dire financial straits due to significant advertising restrictions after he changed Twitter's name.
Companies such as Disney and IBM stopped promoting X in November after Musk endorsed what many saw as an anti-Semitic message.
Musk later apologized for supporting the aforementioned message, but criticized those who stopped the ads on his social network. He admitted that a boycott could kill the company. /BGNES