The social media platform formerly known as Twitter is worth almost 80% less than two years ago when Elon Musk bought it, according to estimates from investment giant Fidelity.

Elon Musk's X is worth nearly 80% less than what he paid for the social platform, formally known as Twitter, when he bought it two years ago

He said he believes Twitter was actually worth about $30 billion when Musk bought it and now that number is closer to $15 billion. Ives added that engagement on the platform remai

Elon Musk's X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.  The asset manager, Elon Musk's X is now valued at less than a quarter of its $44 billion purchase price,

Texas is now home to a company that isn't valued anywhere close to what it was during its California heyday. Elon Musk's X has seen its value drop dramatically from when he purchased it for $44 billion in 2022.

And by Fidelity’s calculations, the site is now worth less than 25% of the $44 billion Musk paid for it. When Musk bought Twitter, Fidelity invested $19.66 million. As of the end of July, it says, those shares were worth just $5.