Here’s How Much Elon Musk’s X Is Worth Now Compared to When He First Bought It for $44 Billion
A new Fidelity document shows how far X shares have fallen.
Key Takeaways
- Elon Musk bought Twitter, now X, in October 2022 for $44 billion.
- In October 2023, Fidelity valued X at $19 billion.
- The site is now valued at $9.4 billion, according to Fidelity.
X, the social media site formerly known as Twitter that Elon Musk bought in October 2022 for $44 billion, is now worth $9.4 billion, according to from Fidelity.
Fidelity the value of X by nearly 80% (exactly 78.7%) in its Blue Chip Growth Fund , filed Saturday. The filing showed that Fidelity’s initial investment of in X just before Musk took over was worth $5.5 million as of July 31. The invests in established companies and aims for long-term growth.
This isn’t the first valuation cut X has received from Fidelity.
Related: Elon Musk Is Officially Moving X Out of San Francisco: ‘No Choice’
In December, Fidelity disclosed that X was worth when Musk acquired it, at a valuation of $12.5 billion. In , Fidelity valued X at $19 billion.
A September 2024 from analytics company Kantar showed that over one in four (26%) marketing firms plan to cut down ad spending on X next year, the biggest withdrawal from any major social media platform. X also had the lowest overall percentages of marketers who thought ads on the platform were trustworthy and innovative compared to Instagram, YouTube, and TikTok.
In , Apple, IBM, and Disney pulled ads from X . They were the eleventh, fifth, and eighth-largest advertisers on X.
Related: X Is Losing Users and Struggling to Attract Creators, According to New Data
Key Takeaways
- Elon Musk bought Twitter, now X, in October 2022 for $44 billion.
- In October 2023, Fidelity valued X at $19 billion.
- The site is now valued at $9.4 billion, according to Fidelity.
X, the social media site formerly known as Twitter that Elon Musk bought in October 2022 for $44 billion, is now worth $9.4 billion, according to from Fidelity.
Fidelity the value of X by nearly 80% (exactly 78.7%) in its Blue Chip Growth Fund , filed Saturday. The filing showed that Fidelity’s initial investment of in X just before Musk took over was worth $5.5 million as of July 31. The invests in established companies and aims for long-term growth.
This isn’t the first valuation cut X has received from Fidelity.
Related: Elon Musk Is Officially Moving X Out of San Francisco: ‘No Choice’
In December, Fidelity disclosed that X was worth when Musk acquired it, at a valuation of $12.5 billion. In , Fidelity valued X at $19 billion.
A September 2024 from analytics company Kantar showed that over one in four (26%) marketing firms plan to cut down ad spending on X next year, the biggest withdrawal from any major social media platform. X also had the lowest overall percentages of marketers who thought ads on the platform were trustworthy and innovative compared to Instagram, YouTube, and TikTok.
In , Apple, IBM, and Disney pulled ads from X . They were the eleventh, fifth, and eighth-largest advertisers on X.
Related: X Is Losing Users and Struggling to Attract Creators, According to New Data
