How has the value of X changed since Elon Musk bought it?

When Elon Musk purchased Twitter in October 2022, he paid $44 billion for it. Since then, major overhauls to the social network, including rebranding it to X, have made waves across the platform, resulting in changes to its estimated value.

Fidelity listed its stake in X at $5.6 million on Nov. 30, 2023, down from its original share of $19.7 million. That suggests the value of the entire company is now $12.5 billion, down about 72 percent from Musk’s original purchase price.

Reports from Axios note that although Fidelity is a shareholder, it doesn’t have great insight into X’s financials since it’s a now a privately held company; other shareholders may value their stock in X differently.

X reported its own valuation at $19 billion in October.