Elon Musk’s X is now worth less than a third of the price the billionaire paid for the former Twitter Inc., according to Axios citing disclosures by Fidelity, which helped him complete the $44 billion purchase.
This comes as the company, formerly known as Twitter, risks losing as much $75 million in advertising revenue by the end of the year as major brands pause their marketing campaigns on the platform, according to the New York Times.