The Journal.
How Elon Musk Pulled X Back From the Brink
Apr 16, 2025
Alexander Saeedy, a banking correspondent for The Wall Street Journal, dives into Elon Musk's extraordinary turnaround of X, formerly Twitter. He discusses the dramatic shift from near-bankruptcy to a valuation exceeding $100 billion, fueled by Musk's merger with xAI. Saeedy explores the impact of Musk's political connections on advertising recovery and investor confidence, alongside the ambitious launch of the Grok chatbot. The conversation paints a vivid picture of Musk's bold strategies and the financial implications of this high-stakes venture.
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Quick takeaways
- Elon Musk's turnaround of X was fueled by rekindled relationships with major advertisers, significantly improving the platform's financial outlook.
- The merger of X with Musk's artificial intelligence company xAI aims to position the platform as an 'Everything app', enhancing user engagement and capabilities.
Deep dives
Elon Musk's Turbulent Takeover of Twitter
The acquisition of Twitter by Elon Musk in 2022 for $44 billion marked a significant change in the platform’s trajectory. Initially, Musk faced numerous challenges, including a mass exodus of users and advertisers, who were unsettled by his controversial changes, which included drastic layoffs and the dismantling of the content moderation team. Revenue plummeted as advertisers grew hesitant about the platform's future and expressed concerns over its financial stability, leading Musk to admit that bankruptcy was a possibility. As the situation appeared dire, the value of the company dipped significantly, reaching only a third of the acquisition price shortly after Musk's takeover.
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