It already served its purpose. He bought it so he could control a narrative, used it to boost right wing voices, used it to capture media for the purposes of suppressing dissent to win an election. He took Russian and Saudi money to buy the platform for the expressed purpose of getting Trump elected.
He's already used it to buy an election. He's gotten plenty of value out of it.
According to analysts at Emarketer, from when Musk acquired X in 2022 until 2025, they expect X to have lost 7 million monthly active users in the U.S.
The declining user base pales in comparison to the decline of X's brand and value. According to a recent report from Brand Finance, X's brand is now worth 673 million. The brand was valued at $5.7 billion before Musk's takeover in 2022. When it comes to revenue, X's revenue fell by 40 percent when compared to the prior year based on internal company data from June 2024.
X as a brand was worth $0 in 2022.
Twitter as a brand was worth $5.7 billion in 2022.
Elon took Twitter to the back of the shed and Old Yeller'd it.
Or if you prefer to be a lot more cynical, he Old Yeller'd it, but he burned it's equity to get himself elected Co-President, and is worth like a hundred billion dollars more than he was before he did that.
So really, it was a Very Wise and bigly Smart business move.
<angry_upvote>
Dude he doesn't care Twitter did exactly what he bought it to do. It can burn to the ground far as he is concerned. He bought himself a president and will be put in charge of the government that reglates his businesses. Dude going make more then he loss on Twitter .
Which is exactly what the people who gave him the money wanted him to do with it.
Am I missing something? He bought it for $44bn
"Brand" means the value attached to the name, not the value of the company as a whole. With that being said, yes, Elon massively and hilariously overpaid for Twitter (around 50%-100% over the odds IIRC). He offered an absolutely insane price per share as a stunt to get them to change their hate speech policies, and the Twitter shareholders said "Deal" and took his money. That's why he sued them to try to get out of going through with the deal; he never actually meant to buy the company in the first place, he just made a really, really stupid attempt at a power move and it blew up in his face.
Ahh I see. Thanks for the explanation. Too funny lol
And now he is basically another misinformation hub like Murdoch Media. Weirdly also with M's.... Musk Media.
Good! Some good news in my feed for a change.
That should be a lemmy community :) I would read a good news focused lemmy, although moderating something like that would be subjective and potentially difficult.
Not quite the same, but we do have "andfinally" for quirky and silly news.
https://feddit.uk/c/andfinally
Named after the tendency on TV to put lighthearted news pieces like these at the end, to give people something to smile about after all the depressing stuff.
oh interesting! subed.
On Lemmy:
Elsewhere:
Good! Let's accelerate this trend. If you have friends or family still using X tell them to delete their account.
Don't worry, Elon. The Russian bot farms will create more users every election cycle.
Is someone shutting down all the Russian bot servers or something?
This article is not about technology. Next time, please go here:
Twitter is, in fact, technology.
Soon Xitter/Elon will purchase Truth Social from Trump for all the monies and they will be the same platform, under one overlord.
Well, ain't that just a low down dirty shame? lol
Can't lose what he's never had, my love 💕
I wish.
This is a most excellent place for technology news and articles.
