Elon Musk plans XWire to take on news distribution platforms

X Is Now Worth 55% Less , Than What Elon Musk Paid for It. Musk bought X, formerly Twitter, for $44 billion last year. . Musk bought X, formerly Twitter, for $44 billion last year. . Now, he thinks it's worth only $19 billion, The Verge reports. . That valuation was revealed in internal documents awarding X employees company equity at $45 per share, or $19 billion. . There was also a note stating that "the fair market value per share is determined by the Board of Directors based on a number of factors in a manner that complies with applicable tax rules.". The Verge points out that Musk is the company's chair, as he has not yet established a formal board. However, X might be worth even less than $19 billion. One of the company's investors, Fidelity, thinks X is only worth about $15 billion to $16 billion, The Verge reports. . One of the company's investors, Fidelity, thinks X is only worth about $15 billion to $16 billion, The Verge reports. . That is 65% less than what Musk bought it for. Fidelity invested over $300 million in Musk's takeover. Fidelity invested over $300 million in Musk's takeover. According to Axios, Musk has often admitted that he paid too much for the platform