Elon Musk’s X Investment Disaster: $15 Billion Lost and What It Means for the Future

Tesla CEO Elon Musk’s acquisition of X (formerly Twitter) has seen its valuation plummet to $15 billion within just six months. 

On Tuesday, Gizazine reported mixed reactions from investors. While some consider this a “good investment” and raise no concerns, some argue that Musk is causing significant wealth destruction.

Fidelity, which invested $316 million in shares when Musk acquired X, has seen the value of its investment drop to $88 million—just 27% of the original amount.

Saudi Prince Al-Waleed bin Talal, who invested $1.4 billion in X, is experiencing a substantial decline in value to $530 million. Despite this, he remains optimistic about his investment.

In contrast, investor Ross Gerber criticized Musk, claiming that “Elon’s done a tremendous amount of wealth destruction since he’s purchased Twitter.” The company is currently experiencing a decline in advertising revenue, and there are concerns that Musk may be undermining the initiatives of X’s CEO, Linda Yaccarino.