Investors Are Demanding Elon Musk Makes A Change After X Loses Billions Of Its Value

Since Elon Musk took control of X, formerly known as Twitter, in 2022, investors have lost billions of dollars. Now, they are speaking out against the tech mogul for his faulty business decisions.
Musk purchased the platform for $44 billion using bank loans. However, after he laid off 75% of its staff, changed the app’s name, sought more advertisements and altered user guidelines, the company lost billions of its value.
“Elon’s done a tremendous amount of wealth destruction since he’s purchased Twitter,” Tesla investor Ross Gerber told The Washington Post. “For the people who put capital into [Elon] for any amount, trying to explain to people how he lost [so much money] is not a fun conversation.”
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Gerber has given Musk a six-month deadline to increase Tesla’s stock before he pulls his business. He said he...
Musk purchased the platform for $44 billion using bank loans. However, after he laid off 75% of its staff, changed the app’s name, sought more advertisements and altered user guidelines, the company lost billions of its value.
“Elon’s done a tremendous amount of wealth destruction since he’s purchased Twitter,” Tesla investor Ross Gerber told The Washington Post. “For the people who put capital into [Elon] for any amount, trying to explain to people how he lost [so much money] is not a fun conversation.”
window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-mid', container: 'taboola-mid-article-thumbnails', placement: 'Mid Article Thumbnails', target_type: 'mix' });
Gerber has given Musk a six-month deadline to increase Tesla’s stock before he pulls his business. He said he...
- 9/4/2024
- by Ava Lombardi
- Uinterview
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