- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
The social media platform X has lost 71% of its value since it was bought by Elon Musk, according to the mutual fund Fidelity.
Fidelity, which owns a stake in X Holdings, said in a disclosure obtained by Axios that it had marked down the value of its shares by 71.5% since Musk’s purchase.
Musk acquired Twitter for $44bn in October 2022 and renamed the platform X in July 2023. Fidelity’s estimate would place the value of X at about $12.5bn.
The number of monthly users of X dropped by 15% in the first year since Musk’s takeover amid concerns over a rise in hate speech on the platform.
Musk it’s a CIA agent and he accomplished the work of buying Twitter to make it follow the agenda, it was getting into a progressive left wing place, now it’s a christofascist right wing place. For him owners it’s not wasted money just a well made investment into the spreading of misinformation and fascist propaganda.
He it’s just giving some favors back to his investors.
Source: I work for the CIA too.