X (ex-Twitter) faces difficulties after completing a year under the command of Elon Musk

As of August 31, X was valued at $16,9 billion, based on data from Fidelity. Advertisers, who accounted for the majority of Twitter's revenue before the acquisition of Musk, fled the platform en masse following the purchase, creating a 55% decline in advertising revenue since last October, according to Reuters.

User numbers and downloads also suffered last year, with monthly active users dropping nearly 15% globally, while app downloads fell 38% globally between October 2022 and September 2023.

X CEO Linda Yaccarino said last month that most major advertisers have returned to the platform. She also said that the company was “almost breaking even” and that it appeared that the ex-Twitter getaria to make a profit in early 2024.

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Elon Musk says that X, ex-Twitter, can become a paid tool

Elon Musk suggested that all users of X, formerly called Twitter, may have to pay to access the platform. In a conversation with Israeli Prime Minister Benjamin Netanyahu, the billionaire said that a payment system was the only way to combat bots.