Story perspectives

X's Revenue Plummets 66%, Yet Value Soars to $44B

4/15/2025

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Summary

Story summary

After Elon Musk's takeover, X faced a dramatic decline in the UK, with revenues plunging 66.3% to £69.1m in 2023 and a workforce cut from 399 to just 114. Yet, amidst these challenges, X's value surged back to $44bn, leading to a $33bn acquisition by Musk's X.AI.

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Story summary

After Elon Musk's takeover, X faced a dramatic decline in the UK, with revenues plunging 66.3% to £69.1m in 2023 and a workforce cut from 399 to just 114. Yet, amidst these challenges, X's value surged back to $44bn, leading to a $33bn acquisition by Musk's X.AI.