X’s share payment to its employees revealed the current value of the company. Accordingly, the value of X is now 19 billion dollars. This shows that the value has fallen 57% since Musk’s $44 billion acquisition.
X (Twitter) came under the management of Elon Musk in October 2022 with a fee of $ 44 billion. But since then financially It wasn’t going very well. The withdrawal of advertisers, debts, and the criticized changes Musk made on the platform caused X to lose value. In any case, $44 billion was considered an amount “more than it deserved” for the company.
After a year, there was no definitive information on what X’s current value was. However, information coming from within the company yesterday and first obtained by Fortune showed the current value of the company. As you can imagine, Musk has lost serious blood since he took over.
The value of X decreased by 57% to $19 billion!
The news, based on sources close to the subject, states that over $45 He revealed that he made share payments. $45 is the total valuation of the company. to 19 billion dollars revealed that he fell.
As we mentioned at the beginning, Musk bought the company for 44 billion dollars. Although this amount was more than necessary, the company experienced a constant decline and could not turn a profit. New information pointing to 19 billion dollars also indicates that the technology giant It has lost 57% of its value in the last year showed. We should also point out that Musk estimated that the company’s value had fallen to 20 billion in March. But the amount now revealed shows that the situation is getting worse.
Despite all that has happened, Musk still maintains hope for X. The purpose and platform of the billionaire businessman is super app translate For this purpose, moves such as long posts and videos have already been made, and steps such as financial services and employment features were also planned for the future.
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However, it is unclear whether these will work. According to research, the number of active users of X has increased since Musk took over. decreased by 15%. There was a huge decrease of 54% in advertising revenues. We will wait and see what the platform will experience in the future.
Source :
https://fortune.com/2023/10/30/x-formerly-twitter-valued-19-billion-employee-stock-plan/