Nearly two and a half years after acquiring it, Elon Musk has finally witnessed a key victory with X, the social media service previously known as Twitter.
On March 20, 2025, X reached a market value of €41.8 billion, matching the amount Musk initially paid in October 2022. Although largely symbolic, this achievement concludes 874 days marked by bold moves, heated debates, and daunting obstacles.
A Bold Acquisition and Controversial Changes
When Musk purchased Twitter for €41.8 billion in 2022, it sparked a wave of skepticism within the tech sector. His management style was immediately met with criticism questioning the direction he intended for the platform.
Championing free expression, Musk rolled back numerous content moderation policies and reduced the workforce by nearly 80%, citing a need to overhaul the company’s structure for financial viability.
These radical actions caused backlash. Many advertisers withdrew support, worried about the platform’s shifting identity. Musk’s rebranding of Twitter to X did little to quell these concerns, as the site increasingly became linked to false information and harmful content.
Internal Turmoil and Legal Battles
Behind closed doors, turmoil reigned at X. Numerous former employees reported a toxic atmosphere characterized by broken assurances and intense pressure.
One notable episode involved a software engineer abruptly dismissed after publicly questioning Musk about his declining reputation on the site.
Musk’s hardline approach also sparked legal challenges, including lawsuits from ex-staff asked to return severance payments.
Despite this, Musk pressed on, accusing the advertising industry of orchestrating an illegal boycott and responding with legal actions.
New Initiatives Bolster Musk’s Vision
Undeterred, Musk advanced his broader vision by launching xAI, a company devoted to artificial intelligence. He began reshaping X into a versatile platform offering more than just social networking.
Musk aimed to transform X into a center for online transactions and diverse digital services, extending beyond its original social media roots. Despite ongoing controversies, the platform retained high-profile investors.
Investment firms like Sequoia Capital and Fidelity Investments continued backing X. Over time, this support helped restore the platform’s valuation to €41.8 billion by March 2025.
Looking Forward: The Challenge of Sustaining Growth
Even with valuation restored, X faces significant uncertainties. Musk must tackle the heavy debt burden taken on during the acquisition and chart a course for enduring stability.
Can X reclaim the trust of advertisers and users? Musk’s ambition to expand X into a multifunctional digital ecosystem remains a work in progress, and its success is far from assured.
While Musk’s recent milestone is promising, numerous obstacles lie ahead. Whether X emerges as a major player in the future digital landscape or becomes a cautionary tale depends on how effectively Musk navigates this complex transformation.
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