Elon Musk's X is losing value sharply, says the company that helped him buy it

The value of X (formerly Twitter) continues to circle the toilet at an impressive rate.

According to an analysis by investor Fidelity, the social media platform is now worth 79 percent less than when Elon Musk bought it.

The financial platform should also know what it is talking about, as it helped Musk take over X in 2022 and has a stake in the company. According to TechCrunch, Fidelity's initial investment was $19.66 million. Fidelity's most recent financial report lists the value of its X share at $4,185,614.

That is a pleasing decline of around 79 percent.

To be fair, the writing has been on the wall for some time. In January 2024, Fidelity valued its stake in X at 71.5 percent lower, and recent documents made clear how sharply X's revenues have fallen. Meanwhile, a new report suggests that advertisers – who have already fled Musk's platform en masse – plan to spend even less on X in 2025.

Elsewhere, Brazil is battling the platform, and the number of X users in the US and UK is declining.

Doesn't look great, does it?