FX.co ★ X social network faces 71% depreciation amid controversies and criticisms

According to the Axios internet portal, the social network X, owned by American billionaire Elon Musk, has experienced a 71% decrease in value. Analysts believe this occurred under the leadership of the new owner of X. According to analysts, after Elon Musk purchased the social network X (formerly Twitter), the company's value dropped by 71%. In addition to Musk, the investment in the acquisition of the public information platform came from Fidelity. The company assisted the businessman in acquiring the social network. However, Fidelity's leadership does not have precise financial information regarding X, despite owning a portion of the shares. Analysts believe that Musk's criticism of some advertisers contributed to the 10% depreciation of the social network. When the businessman spoke out against advertisers who refused to work with X and accused Musk of anti-Semitism, the social network's value plummeted. In November 2023, the billionaire approved a publication stating that Jewish communities allegedly spread hatred towards whites. In addition to this, Musk accused the American Jewish non-governmental organization ADL and similar groups of promoting "anti-white racism or anti-Asian racism or racism of any kind." Later, the entrepreneur called for rejecting these ideas. The owner of X received serious criticism in the White House for such a position. In particular, Andrew Bates, the official spokesperson for the US president's administration, accused the businessman of supporting anti-Semitism.