Elon Musk’s acquisition of Twitter in 2022, subsequently renamed “X,” has led to a substantial 71% decrease in its value, as per mutual fund Fidelity’s disclosure. Fidelity, a stakeholder in X Holdings, marked down their shares by 71.5% since Musk’s purchase, estimating X’s value to be approximately $12.5 billion.

Following Musk’s takeover and rebranding, X witnessed a 15% drop in monthly users within the first year, partly due to concerns regarding increased hate speech on the platform. Significant changes within X included a staff reduction of at least 50%, decreased moderation, and an EU warning due to the platform’s high disinformation content compared to other major social media platforms.


Fidelity’s revised valuation, reported by Axios, encompassed the fallout from multiple companies withdrawing advertising after Musk endorsed an antisemitic conspiracy theory. Musk’s response to the boycott further escalated tensions.


Despite Musk’s intention of using the platform to “help humanity,” controversies ensued as he reinstated previously banned figures such as former President Donald Trump and conspiracy theorist Alex Jones. Trump faces numerous criminal charges, including subversion of the 2020 election, while Jones offered a settlement to Sandy Hook families after being sued for spreading lies about the 2012 school shootings.




Jones’s attempt to invoke bankruptcy protection was denied by a Texas judge, leading to his obligation to pay compensation to the families. Consequently, believers of Jones’s misinformation targeted the families with abuse and threats.

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