Hajra Naz
Friday, Elon Musk announced that he had purchased Twitter, which is now known as X, for $44 billion to extend the “civilizational lifespan.”
In April 2022, Twitter uncovered its procurement by Musk for $54.2 per share in real money, totalling nearly $44 billion.
Following the transaction’s culmination in October 2022, Twitter progressed into a privately-held entity.
In response to a follower’s speculation on X, suggesting that Elon Musk’s purchase of Twitter could be his most significant move in the long term, Musk commented, “I bought Twitter to improve probable civilizational lifespan.” The CEO of Tesla and SpaceX boasts approximately 172.7 million followers on X.
Renowned author Stephen King replied to Musk, cautioning, “Just because you bought it doesn’t mean you own it.”
Following the rebranding of Twitter to X, Musk highlighted in a post that the platform achieved a user milestone in 2023, surpassing 541 million users.
In December, X’s CEO Linda Yaccarino stated that over 10 million users joined X during the same month.
As per recent SimilarWeb data, X encountered a decrease in traffic from 6.4 to 5.8 billion in September, addressing a 10% decline.
Yaccarino expressed optimism regarding the possibility of the social media platform turning a profit in 2024.
