Billionaire paid $44 billion for Twitter in 2022. A year on, X has lost more than half its ad revenue and is now worth $19 billion
Elon Musk is aiming to transform X, formerly known as Twitter, into the 'everything app'. Photograph: Kenny Holston/The New York TimesX, the platform formerly known as Twitter, is worth less than half of what Elon Musk paid for it a year ago.
Since the takeover, most of Twitter’s staff was laid off or resigned. Mr Musk renamed the company X, changed some of its content rules and lost more than half of its advertising revenue.Kerry and C&C cushion weak updates by waving cash as Irish share buybacks near €4bnThe company has struggled financially under Mr Musk’s ownership. At the time of the takeover, Twitter was valued at $44 billion, based on a mix of debt and equity.
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