Vale X's value is once again reduced by Fidelity, and the current value may be less than one-third of what Musk paid for the acquisition.

Zhitong App learned that according to a report from Axios citing internal information disclosed by renowned investment firm Fidelity, the current value of social media platform X (formerly known as Twitter) led by Elon Musk may be less than one-third of the total value when the billionaire successfully acquired Twitter in 2022. Fidelity's financing channels had previously helped Musk complete the landmark acquisition worth as much as $44 billion. After the establishment of xAI, the number of companies directly managed by Musk has reached six, including Tesla, SpaceX, social media platform X (formerly known as Twitter), brain-machine interface company Neuralink, and underground tunnel company The Boring Company. It is worth noting that these companies are all at the forefront of their respective industries and can be considered industry leaders. The report stated that as of the end of November 2023, Fidelity further reduced the holding value of X stocks by 11%, citing the latest investment portfolio update of its Blue Chip Growth Fund. When evaluating the value of this social media company supported by a few shareholders, the mutual fund company continued a series of value reduction trends. As early as 2023, this company had difficulty attracting large domestic advertisers in the United States. Musk officially acquired Twitter in late October 2022, but a series of unexpected changes followed, from massive layoffs and the closure of international offices to the platform's review policies and verification systems being covered by a disruptive subscription model. Media reports last month stated that this drastic change has deterred American advertisers, and it is expected that the total annual revenue of X's advertising sales business in 2023 will reach approximately $2.5 billion, far below the previous annual total of about $1 billion per quarter. It is understood that in November of last year, Musk warned the advertisers who abandoned social media platform X due to his support for anti-Semitism posts that they could choose to "self-destruct." Earlier that month, Musk liked a post with anti-Semitic content, which claimed that Jews have a "dialectical hatred" towards white people. Subsequently, this shocking information received criticism from the White House and several major institutional investors, including those led by Musk's Tesla Inc. Large corporate clients, including Walt Disney Co. and Apple Inc., have distanced themselves from the social platform. According to insiders, advertising sales currently account for 70% to 75% of X's total revenue. This means that the total revenue in 2023 is approximately $3.4 billion, including sales from subscriptions and data licensing transactions. Previously undisclosed sales data clearly indicates that advertisers are concerned about X's content moderation under Musk's leadership, especially his amplification of anti-Semitic and other extremist views. The company ceased to disclose financial data after its acquisition by Musk in October 2022. X executives, including Musk, describe the social platform X as a constantly evolving global business with multiple revenue streams. We are no longer Twitter, and we no longer measure ourselves by old Twitter metrics - whether it's revenue or user metrics.