2023-10-31 03:14:59
According to media reports, Elon Musk’s online platform When shares were allocated to employees, X was valued at a total of $19 billion, wrote the magazine “Fortune” and the financial service Bloomberg, among others, on Monday. Musk paid around $44 billion for Twitter in October 2022.
He has since renamed the service to X and wants to use this as a basis to build an app with more functions including financial services. The platform has suffered a significant decline in revenue since the takeover. Musk has said several times that they are only regarding half as high as they once were on Twitter.
Many companies avoid X as an platform because they fear a negative environment for their brands. Musk is increasingly trying to fill the gap with subscription revenue. In addition, he took out loans of around $13 billion for the takeover – which are now burdened by
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