Price Twitter/X

It’s worth noting that Fidelity once helped Musk acquire Twitter. Now the investment fund claims that: The platform costs 71.5% less than $44 billionPurchased in 2022. That’s only $12.5 billion.

Interestingly, the price reduction rate in October was 65% of the original cost. So the company’s cost is 28.6 billion. Musk’s company lost another 10 percent of its value in November after the social network’s controversial chairman shared his thoughts about Jews and told advertisers to go to hell (albeit in a much harsher way).

Loyalty achieved More than $300 millionto help finance the acquisition of X, but the fund believes its investment is currently worth less than half of what it paid out. Investors have reportedly not seen any major changes since the launch of Grok’s AI. Musk had some hopes for him. The problem is that since the chatbot is only available to paid subscribers of X Premium, Elon hoped that this fact would attract more subscribers and thus bring in new money that would at least partially cover the losses from advertising.

Another option that Musk is said to be considering is political advertising. Such ads have been banned on the platform since 2019, but in times of despair, the billionaire is hopeful for the upcoming US elections. His confidants are already in talks with both sides. The source also notes that relations with Republicans are much more promising for the company than with Democrats. They plan to make up to $100 million from this.