Since Elon Musk, Twitter suffers the infernal fall of its value

The social network would have seen its valuation melt like snow in the sun in not even a year!

Twitter is surely the most talked about social network in the world since it was taken over last fall by Elon Musk. But the controversies which do not cease to be linked, if they ensure a certain permanence on the front of the news, do very badly to the finances.

$15 billion

A year ago, Elon Musk, then caught in an imbroglio with Twitter shareholders, was forced to buy the social network for around 44 billion dollars. But this substantial price no longer really looks like a good pickaxe, financially speaking.

Two months ago, the American billionaire himself explained that the value of his assets had simply been reduced by half and was valued at 20 billion dollars. If the estimate was already hurting the wallet, it could still be below reality. This is confirmed by the Fidelity fund, a shareholder in the network. For the latter, Twitter would only be worth 15 billion dollars!

A continuous fall

For Fidelity, Twitter’s trajectory under Elon Musk is one of steadily declining valuation, eventually reaching a sum representing only 33% of that paid by the former richest man in the world. Bloombergwhich reports this information, indicates in flat that the criteria used by Fidelity remain rather vague.

This information is the latest to communicate on the financial problems of the Californian company, whose advertising revenues are also in freefall. For the year 2023, they should barely reach 3 billion dollars, against 4.14 billion the previous year. So, could the arrival of Linda Yaccarino at the head of Twitter be a game-changer?

Source : BFM TV