Elon Musk’s X platform, formerly known as Twitter, has dropped a lot in value since its acquisition in 2022. Elon had to come up with 44 billion dollars to get his hands on the platform. However, Fidelity now estimates that the value of Twitter or X has plummeted to 9.4 billion dollars, which is a drop of almost 80%. However, it might not stay like this in the long run! Experts have an idea about X’s future. Keep on reading to discover more about the current value of X!
Advertisers Don’t Like Elon’s Management
Part of the loss in value is because of the lack of advertisers on the X platform. Elon Musk doesn’t moderate the content like the previous managers did. There is a lot more free speech on the platform, which does not align with most brands’ voices. In an interview, Elon Musk also told advertisers to “F-Off” if they tried to blackmail him with money! Since he didn’t care about the money.
Elon has made it clear that free speech is allowed on his platform, but that illegal things such as inciting violence will result in a suspension or even a ban from the platform. He wants to protect free speech at all costs and wants X to be one of the only platforms that provide its users with this freedom.
Elon Musk openly fights all censorship of legal content. He even got the platform banned in Brazil for refusing an “order” to block some political figures on X for spreading “misinformation”. The top court judge, who gave this order, then proceeded to ban the platform from Brazil. Over 40 million monthly users didn’t have access to the platform anymore because of this decision.
It Might Be Beneficial In The Long Run
Even though the current valuation of the X platform is nearly 80% lower than when Elon Musk Bought the platform, experts believe that the platform will grow in the long run. They believe that it might even be worth more than the 44 billion dollars that Elon paid for it. Especially with the AI integration into the platform!
