According to Elon Musk's own math, X-Twitter is only worth $4 Billion. In a mere year, Musk's poor management lost 90% of the value of the company. I wonder what the investors who loaned Musk the money think about this cluster-f@ck. According to Elon Musk’s own math, the company formerly known as Twitter has lost 90% of its value and could be worth just $4 billion https://finance.yahoo.com/news/according-elon-musk-own-math-204413573.html Elon Musk says the most outrageous things. But the message he posted at 7:04 p.m. on Labor Day evening may rank as the most negative, in fact self-indicting, assessment a corporate leader has ever issued about their own enterprise. Musk fired off this head-spinning salvo in his attack on the Anti-Defamation League, the Jewish-led organization civil rights organization. The ADL had strongly objected to virulently anti-Semitic tweets from far-right hate groups that X permitted on the platform. Musk charged that the ADL was "aggressive in their demands to ban social media accounts even for minor infractions," and that the organization was "trying to kill X" by pressing advertisers to avoid the site. But the most mystifying feature wasn't that, once again, Musk shot off his mouth and hit his foot, but that he actually put a number on the financial damage allegedly inflicted by the ADL that's likely to floor his partners and lenders. His astounding math applies to the present value of the business formerly known as Twitter. Musk's said many times since he purchased the platform last October that its worth has plummeted, largely via a disastrous drop in ad revenue. Musk bought Twitter for $44 billion, funded $13 billion by loans from big-name commercial and investment banks, and $31 billion in equity. Of the latter portion, Musk contributed about $24 billion of his own cash, while a group of investor friends including Larry Ellison, Ron Baron, and Prince Al Waleed of Saudi Arabia provided $7 billion. In the post, Musk charges that "ADL seems responsible for most of our revenue loss" and adds, "I don't see any scenario where they're responsible for less than 10% of the value destruction, so around $4 billion." It's logical to assume that by "value," Musk means the $44 billion paid for the property, not the equity portion. After all, if you bought a house for $440,000, borrowed $130,000, and funded the remaining $310,000 in cash, and the price fell, you'd calculate the fall in "value" based in how much less than $440,000 the dwelling would fetch today. In Musk's reckoning, the ADL singlehandedly vaporized roughly $4 billion in X's "value," and that $4 billion accounts for around 10% of the entire decline in the franchise's worth. That formula puts the total fall at $40 billion. Since Musk and partners paid $44 billion including debt, he's implying that the platform would now change hands for $4 billion (the $44 billion purchase price minus the $40 billion in "value destruction"), for a drop of 90%. In effect, he's saying that the $31 billion he and his partners invested in equity is totally gone, and a big portion of the debt from provided by the cream of Wall Street sits far underwater. Does Elon Musk really believe that X is now worth $4 billion, as his scorching post suggests? Maybe not. But he's just inflicted still another battering on his already beleaguered brand that will further undermine its standing in the eyes of advertisers. His view may be that it's acceptable to exaggerate the pain and throw around numbers when you're the victim, when it's somebody else's fault. If X indeed proves a financial cataclysm, people are likely to forget the excuses, and examine the careening missteps from its mercurial sole proprietor. This story was originally featured on Fortune.com
LOL... and the Twitter data comes from where? And what about iPhone and web users. You seemed to have forgotten millions of people. You better go read all the articles mocking Musk's fake user numbers on Android. Musk's pathetic Twitter 2.0 is only worth a mere $4 Billion according to his own math. It's laughable. Especially when over half of Twitter "users" are bots.
Elon Musk’s Takeover of Twitter Helped Spread Russian Propaganda, EU Study Finds The spread of Russian disinformation about the war in Ukraine was fueled by the “dismantling of Twitter’s safety standards” following right-wing billionaire Elon Musk’s takeover of the platform. https://whowhatwhy.org/politics/int...ped-spread-russian-propaganda-eu-study-finds/
right, and no amount of Ukrainian disinformation was also pushed. On X or any other social media. This from GWB, the King of COVID disinformation.
Musk is busy kissing up to the Putin and not allowing Ukraine to defend itself from the violent Russian aggressors and war criminals. Elon Musk secretly ordered Starlink engineers to disrupt Ukraine counter-attack on Russian fleet https://boingboing.net/2023/09/07/e...-ukraine-counter-attack-on-russian-fleet.html Elon Musk gave Ukraine access to SpaceX's Starlink satellite internet at the outset of Russia's invasion of the country, but the erratic billionare was soon talking privately with Vladimir Putin and now, we learn, secretly ordered Starlink engineers to disrupt a counterattack launched by Ukraine against Russia's fleet. The revelation comes from a new biography by Walter Isaacson. As Ukrainian submarine drones strapped with explosives approached the Russian fleet, they "lost connectivity and washed ashore harmlessly," Isaacson writes. Musk's decision, which left Ukrainian officials begging him to turn the satellites back on, was driven by an acute fear that Russia would respond to a Ukrainian attack on Crimea with nuclear weapons, a fear driven home by Musk's conversations with senior Russian officials, according to Isaacson, whose new book is set to be released by Simon & Schuster on September 12. There's a lot of speculation online among pundits over what it all means, but they're all missing one thing: his capricious "cave submarine"-style meddling means both Ukraine and Russia have an interest in killing him—but not until the war ends. Another juicy detail from the except: Musk, on one of his needy nights on Twitter, wrecked a $145m deal that would have seen the U.S. taxpayer footing the bill for Starlink. Gwynne Shotwell, Musk's president at SpaceX, was livid at Musk's reversal, according to Isaacson. "The Pentagon had a $145 million check ready to hand to me, literally," Isaacson quotes Shotwell as saying. "Then Elon succumbed to the bullshit on Twitter and to the haters at the Pentagon who leaked the story."
The only reason that Musk is pushing Android figures only -- is because it is the only place where he can show he leads. And he is using questionable Android data to make this claim. The realities on the number of Twitter users and the decline since Musk purchased the company has already been discussed previously in this thread.
I got that from doing a search for "Thread's August ADU's". I was curious. It wasn't a Musk website, it was more like Statista, but that wasn't it either. It was an advertising industry thing. Whatever.