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Elon Musk's X Revenues Plunge 60% Amid Staff Cuts

1/9/2026

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Summary

Story summary

Elon Musk's X reported 2024 UK revenues of £28.9 million, down nearly 60% from £69.1 million.
Pre-tax profits declined from £2.2 million to £767,000.
Following Musk's $44 billion acquisition in late 2022, X cut 80% of its UK staff and faced over £22 million in redundancy costs.
The Grok AI tool was restricted after controversies over creating explicit imagery.

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Story summary

Elon Musk's X reported 2024 UK revenues of £28.9 million, down nearly 60% from £69.1 million.
Pre-tax profits declined from £2.2 million to £767,000.
Following Musk's $44 billion acquisition in late 2022, X cut 80% of its UK staff and faced over £22 million in redundancy costs.
The Grok AI tool was restricted after controversies over creating explicit imagery.