After Elon Musk, X revealed to have lost more than 71% in value

LONDON (Online): Elon Musk, the world’s richest man, bought the social media platform X in October 2022 for $44 billion.

However, 15 months after being owned by Elon Musk, the value of this social media platform has decreased by more than 71%.

A Bloomberg report stated that the total value of X has decreased by 71.5% compared to October 2022. The data released by a company called Fidelity revealed a record decrease in the value of X.

This is not the first time that Fidelity has reported on the company’s impending decline in value. The company said in October that X had fallen more than 50 percent in value to $19 billion. X has struggled financially since being taken over by Elon Musk, and its ad revenue has lost 50 percent of its revenue. It has decreased by more than percent.

The company also has billions of dollars in debt to pay off, while efforts to increase revenue through subscription programs and other sources have so far not been successful.