Elon Musk’s X is now worth half of what he paid last year

Internal documents reviewed by The New York Times reveal that Elon Musk's X, formerly known as Twitter, is now worth about $19 billion, a significant drop from the $44 billion he paid to acquire the company last year. The company plans to offer equity at $45 per share in restricted stock units to employees. Musk has admitted to overpaying for the platform and envisions X as an all-purpose app with features like dating services and job recruiting. Fidelity, an investor in X, has reduced its valuation by around 65%.

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