X’s value went from $44B to $12B since Elon bought it.

Elon paid $44B for a social media platform that he had no business with in the first place. Was it a costly mistake?

But do you think Elon cares?

HAHA.

Since Elon Musk’s audacious acquisition and subsequent renaming of Twitter to X, its valuation has plummeted from $44 billion to a startling $12 billion.

The question arises: Is this a reflection of Musk’s mismanagement, or simply the teething problems of a platform undergoing radical transformation?

For context, this valuation drop is primarily based on Fidelity’s bookkeeping, a customary financial practice but not necessarily the final word on a company’s worth.

Yet, this doesn’t fully absolve Musk’s controversial leadership style since taking over X.

Musk, the wealthiest person in the world with a net worth of $251 billion, is no stranger to controversy.

His decision to acquire X was lauded by some as a bold move to promote free speech, but others viewed it skeptically.

His actions since the takeover — from slashing over 50% of the staff to unbanning polarizing figures like Donald Trump and Alex Jones — have only fueled the debate.