Twitter is now worth half of the $44B Elon Musk paid for it: Report

Elon Musk’s social media platform, X (formerly Twitter), is worth less than half of what the tech billionaire bought it for in October last year, an internal memo has reportedly revealed.

According to an Oct. 30

On the other hand, some have seen benefits to Elon Musk’s tenure at the company.

One of the popular additions to the platform under Musk has been paying individual creators for their engagement by way of revenue-sharing payments.

Recently, Musk announced that any posts corrected by the Community Notes feature would become “ineligible for revenue share” — a move that seeks to prioritize accurate information over the purely viral, and potentially inaccurate content.

Making a slight change to creator monetization:

Any posts that are corrected by @CommunityNotes become ineligible for revenue share.

The idea is to maximize the incentive for accuracy over sensationalism.

— Elon Musk (@elonmusk) October 29, 2023

Meanwhile,Musk has repeated on numerous occasions that he means to turn X into an “everything app” — largely inspired by the super apps popular in Asia such as WeChat — which would see the social media platform expand to include a range of financial services, video calls and other lifestyle use cases.

There are also hopes that X would integrate cryptocurrency in some way in the future.

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