X Valued at $19 Billion, Significantly Less Than Elon Musk's $44 Billion Purchase Price

Employee equity plan reveals X's steep drop in value from $44 billion at acquisition to current $19 billion, as ad revenue declines and radical changes under Musk's ownership drive away users.

X (formerly known as Twitter) is now valued at $19 billion, significantly lower than the $44 billion Elon Musk paid for the platform last year.
The decreased valuation was determined based on the company's employee equity plan.
Since acquiring Twitter, Musk has made significant changes including rebranding the platform to X, loosening site content rules, and experiencing decreased ad revenue, all of which have potentially contributed to the platform's devaluation.
The large drop has resulted in financial strain for the banks that helped finance Musk's acquisition, causing them to nurse substantial losses.
X's recent trials include a cost-cutting drive and reducing headcount by over 80%, a damaged advertising revenue stream, and the introduction of new fees, such as a yearly $1 subscription fee for new users in certain areas.
Despite these challenges, Musk continues to transform the platform with the ultimate goal of turning it into an all-purpose hub with an array of features, with hope that X will turn profitable by early 2024.