After nearly three years of turmoil, Elon Musk has clawed X back to the value he paid for it. The platform, once Twitter, is now worth €41.8 billion — the same price Musk spent in October 2022.
It took 1,030 days of firings, lawsuits, ad boycotts, and constant drama to reach this point. But the big question remains: Has Musk turned things around, or is X simply back where it started?
When Musk first bought Twitter, he sacked nearly 80% of staff. He scrapped old moderation rules and promised “absolute free speech.”
Advertisers left in droves, and many users said trust in the platform collapsed. By mid-2023, some believed Twitter’s purchase would go down as a tale of pride gone wrong.
Then came the radical rebrand. Twitter was no more. Musk renamed it X, casting it as the foundation for his dream of an “everything app.” The idea was bold. The reaction was harsh.
Critics accused him of opening the floodgates to hate speech and misinformation. Former employees described a toxic, chaotic workplace.
Lawsuits, Layoffs, and the Bigger Plan
Instead of retreating, Musk doubled down. He sued advertising groups he claimed were colluding against X. He unveiled xAI, a new artificial intelligence arm meant to boost the platform’s technology.
At the heart of it all was his real ambition: “X will be a global hub for banking, shopping, messaging, and more.” His inspiration was China’s WeChat. Investors like Fidelity and Sequoia Capital stayed on board, even as skepticism grew.
In September 2024, X’s value reportedly crashed below $10 billion. By March 2025, it had rebounded to €41.8 billion. Yet this milestone was symbolic more than financial. Musk still faces a heavy debt load, and advertising revenue remains shaky.
Is This Recovery Real — or Just Hope?
For users, the experience has become polarizing. Some see opportunity in creator tools and AI-powered features. Others complain of weak moderation and biased algorithms. Critics argue the valuation rebound reflects Musk’s wider tech empire — Tesla, SpaceX, and xAI — rather than X itself.
Musk insists his vision remains intact: “X will be the future of the internet.” He promises integrated payments, new monetization tools, and a super-app experience.
But real challenges lie ahead. Scaling up means winning mass trust, navigating regulators, and proving users actually want an all-in-one digital platform.
For now, the return to its purchase price is a win Musk can claim. But the bigger leap — turning X into a super-app — is still uncertain.
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