It's been over a year since Elon Musk took over Twitter for $44 billion. Immediately after being taken over he took various drastic actions such as throwing away the majority of the workforce, throwing away the blue smear authentication system, introducing subscriptions and changing the company's name to X. According to a Fortune report today, the value of X has now plummeted to $19 billion.
This is based on the value of company shares given as equity to employees, at around $45. The reduction in value is seen around 55% compared to when Twitter was taken over by Elon Musk a year ago. Elon Musk has plans to make X a super app for banking as well as communication.
Last week the voice calling feature was activated and Musk revealed to his staff that he expects X to replace the bank in just a year.
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APPS & GAMES