16:37 - 5.10.2023
October 5, Fineko/abc.az. It became clear that Twitter's financial situation is not encouraging.
ABC.AZ reports with reference to the foreign press that hopes for Twitter, bought by Elon Musk for $44 billion and renamed for X, are gradually declining.
The decline in the financial condition of the platform is linked with the fact that advertisers have withdrawn their advertising.
So, a few months ago, Linda Iaccarino, CEO of the company, started providing resources for X.
Reuters has made calculations based on all the data that has been presented so far. It is estimated that the current value of X is only $8 billion.
This figure is much lower than what Elon Musk paid. In addition, it is already known that company's debt is $13 billion. From here it becomes clear that the current value of X is even lower than Elon Musk's debt.
