Buzz Feedz: In a high-profile acquisition, Elon Musk made headlines in 2022 when he bought Twitter for a whopping $44 billion. However, since Musk took over, the social media giant has faced financial challenges and the purchase price appears to be much higher than its original value.
Bloomberg reports, citing financial firm Fidelity, that Twitter's current value is estimated at about $15 billion, just a third of what Musk initially paid for the company. Mukhlis was among the outside investors who backed Musk in financing the Twitter acquisition.
The significant difference between the purchase price and the current price highlights the financial difficulties Twitter is facing under Musk's ownership. While the social media platform maintains considerable user engagement and influence, its difficulties in generating revenue and maintaining profitability have undermined its overall value.
This development underscores the complexities of mergers and acquisitions, as well as the challenges associated with reviving struggling companies in a highly competitive digital landscape. As Twitter navigates its financial landscape under Musk's leadership, the focus will likely be on strategies to drive growth, improve monetization and solidify its position as a valued player in the social media industry. Focuses on implementing practices.
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