Commentary: Will Musk do for America what he did for Twitter? Here's what the numbers say.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 23 2024
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Source: Yahoo Finance
Elon Musk's Financial Losses: Since Elon Musk took control of Twitter (now X), he and his co-investors have reportedly lost over $25 billion due to a significant drop in the platform's value, attributed to drastic cost-cutting measures including firing 80% of its workforce.
Concerns Over Federal Spending Cuts: The financial turmoil at X raises questions about Musk's capability to effectively manage federal spending cuts without causing detrimental effects on millions of people, despite his reputation as a successful investor.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
