Breaking News: The value of Twitter (X) has fallen to $19 billion which is lower than Elon Musk’s $20 billion estimate and the $44 billion that he paid for it. Yes, this news is true. This news has been recently released and has sent shockwaves. This news has come out as the biggest shocking news in the world. In an interview some months ago Elon Musk himself stated that Twitter (X) was worth $20 billion. As per his statement, the current figure too is a whole $1 billion lower than the assessed value. After purchasing the company he first changed its name from Twitter to X. And now this news has come out as very shocking. To learn everything read this article carefully without missing any single thing.
X formerly known as Twitter. This company was purchased by the famous businessman Elon Musk last year. After some time he purchased this changed the name of the company and also changed its logo. Now the company has seen its value falling under the tech mogul which is over half of what Musk paid to purchase this company. He has shelled out a hefty $44 billion for the internet site in the last year. Now as per the sources, the restricted stock units have been awarded to the employees who value the company at $19 billion or $45 per share.
In 2020, when Elon Musk was buying the company he tried to tune down the price tag citing market conditions but at the time the executive of the company sued and filed a case against the chief of Tesla because of his initial words. According to an internal email in March 2023, Elon Musk himself claimed that he had purchased Twitter for $20 billion. So this amount too is a whole $1 billion lower than the assessed value. After purchasing the company Musk made some initial changes and he laid odd a lot of staff from the company. Twitter content rules were altered and because of these changes company suffered a lot of losses in more than half of the advertising revenue.
Elon Musk also added $13 billion in debt and he managed his decisions which included led 60% drop in sales and looser content safety rules. As per the reports, the company has been burdened with around $1.2 billion in interest payments on the debt. Musk started paid subscriptions on X because of that this company faced a lot of losses. reports say that only 1% of people subscribed to the monthly premium service.