Since Elon Musk acquired Twitter in 2022 for $44 billion, its value has plummeted over 78%, according to Fidelity's latest financial disclosures, with advertisers continuing to flee.
Fidelity's investment in Twitter, which stood at $19.66 billion, has now been slashed to an estimated $4.19 billion, highlighting a significant loss in valuation.
Musk's controversial changes to the platform and dismissive remarks towards advertisers led to a drop in user engagement and discontent among advertisers, further harming the platform's value.
Despite Musk's claim that if advertisers don't return, 'the company will die', his provocations failed to bring back lost advertising partners, leading to a continued decline.
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