The value of X (formerly Twitter) continues to cycle through the toilets at an alarming rate.
The social media platform is now worth 79% less than when Elon Musk bought it, according to an analysis by investor Fidelity.
SEE ALSO: Elon Musk’s X is losing users in the US, UK and EU. X’s own data proves it.
The financial platform helped Musk acquire Company X in 2022 and owns a stake in the company, so it should know what that’s talking about. According to TechCrunch, Fidelity’s initial investment was $19.66 million. Meanwhile, Fidelity’s latest financial report lists the value of X shares at $4,185,614.
mashable light speed
This is a staggering decrease of approximately 79%.
To be fair, the writing has been on the wall for a while. In January 2024, Fidelity had already undervalued X stock by 71.5 percent, and recent documents revealed just how steeply X’s revenue has fallen. Meanwhile, a new report says advertisers who had already fled Musk’s platform in droves plan to spend even less on X in 2025.
Elsewhere, Brazil is competing with the platform, and the number of X users is declining in the US and UK.
It doesn’t look good, does it?
