Twitter’s value has reportedly plummeted by 33% under Elon Musk, with the platform now worth roughly $15 billion. Musk paid $44 billion last year to acquire the social media platform, which has struggled financially ever since. Fidelity, a financial services company, estimates Twitter’s current worth as one-third of what Musk paid. Despite this, Musk remains optimistic about Twitter’s long-term potential and the incredible potential of the asset.
Twitter is a social media platform used to share text-based messages known as tweets with users all over the world. The site also allows users to share multimedia content such as images and videos. Despite being consistently popular with users, Twitter has struggled to turn a profit in recent years.
Elon Musk is a billionaire entrepreneur known for his involvement in companies like Tesla and SpaceX. In late 2020, Musk’s X Holdings acquired an estimated 79% stake in Twitter for $25 billion. Despite the platform’s struggles, Musk remains optimistic about its long-term potential and its value as a social media asset.
