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2024 begins with bad news for Elon Musk: he may have to sell everything

2024 begins with bad news for Elon Musk: he may have to sell everything

After months of controversy, the new year begins with some troubling news for Musk and his social network.

Elon Musk He will undoubtedly remember 2023 as one of the most turbulent years of his career: in the last twelve months, the businessman has been the protagonist of several controversial episodes, and although he finished the year remaining in the top three among the most powerful men in the world, His image underwent several shocks Public opinion's approval of it is definitive decreased.

Bad news for Elon Musk (photo by ANSA) – Computer-idea.it

At the heart of his problems there is one of Most discussed investments Career: Purchasing Twitter, one of the most famous social networks in history and one of the most used by millions of users around the world. At least until Musk arrives. Since Musk got his hands on Twitter, he has implemented a series of… Company policies which has Help keep away From the podium not only the audience, but also Investors. And now, in the early days of 2024, the social network's future prospects couldn't be worse.

The year starts in the worst possible way for Musk.

Twitter has only been in Elon Musk's hands for a year, but in such a short time it has already had to face a name change (known today as “X“), radically dismissed many of its employees discount from Moderation in content Compared to the past.

Musk's statements on some sensitive issues caused serious damage to the platform's image (photo by ANSA) – Computeridea.it

So, at the end of the year, came the event that could be the definitive sign of his downfall: Musk let himself go Controversial statements About the ongoing armed conflict between Israel and Palestine, this has brought in many investors, including major brands such as Disney, Apple H Niketo withdraw their advertisements on the platform.

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These days, the mutual fund that helped Elon Musk buy X is now saying so The platform is valued at 71.5% less My respect to 44 billion dollars Which it was Purchased in 2022. Fidelity, a well-known investment firm, cut the rating of Musk's social media platform by more than 10% in November when Elon Musk shared his thoughts on Jews and told advertisers that “Go to that country“.

Musk responded to the controversy by saying that X was built around importance freedom of speech, But this did not reassure him Advertisers, are concerned about the presence of hate speech on the platform and the resulting damage to their business image. Now everything depends on the next moves Musk chooses to make, and as we all know, they won't be easy to predict: we risk seeing… Platform for sale.