X's Value Plummets: Analysis of Fidelity's Data on Declining Social Media Worth
X's Value Declines: The Fidelity Report
The value of X (formerly Twitter) continues to circle the toilet at an impressive rate. The social media platform is now worth 79% less than what it was worth when Elon Musk purchased it, according to analysis by investor Fidelity.
Fidelity's Investment Insights
Fidelity's initial investment, per TechCrunch, was $19.66 million. Fidelity's latest financial report lists the value of its X stake as $4,185,614, indicating a yikes-inducing decrease of around 79%.
Ongoing Declines and Advertiser Concerns
In January 2024, Fidelity valued its stake in X at 71.5% less. Recent documents reveal just how significantly X's revenue has plummeted, as advertisers—who were already fleeing Musk's platform en masse—are planning to spend even less on X in 2025.
Global Impact and User Decline
Elsewhere, Brazil is battling the platform, and the number of X users in the U.S. and the UK continues to decrease. Not looking great, is it?
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.