Elon Musk's X Valued at 79% Less Than Purchase Price

Fidelity estimates the social media platform, formerly known as Twitter, is now worth $9.4 billion, down from the $44 billion Musk paid in 2022.

Fidelity's Blue Chip Growth Fund report valued X at $9.4 billion as of August 2024, a 78.7% decline from the $44 billion purchase price.
The platform has seen a significant drop in advertising revenue and user engagement, contributing to its decreased valuation.
X has 570 million monthly users globally, but U.S. monthly users have dropped by 20% since Musk's acquisition.
Musk's controversial actions and statements, including embracing conspiracy theories and clashing with advertisers, have led to a decline in brand safety perceptions.
Despite the valuation drop, Musk remains the world's richest man with a net worth of $259.9 billion.