It’s taken nearly two and a half years, countless headlines, and a storm of controversy, but Elon Musk has finally hit a milestone with X—the platform formerly known as Twitter. As of March 20, 2025, X has regained its original acquisition value of €41.8 billion, marking a long-awaited first victory for the tech mogul.
A High-Stakes Gamble with a Turbulent Start
Back in October 2022, Musk stunned the tech world by buying Twitter for an eye-watering €41.8 billion. Many saw it as a reckless bet, especially given his reputation for bold, often unpredictable moves. From day one, the acquisition sparked waves of criticism, with skeptics questioning his motives and warning of chaos ahead.
And chaos is exactly what followed.
In the early months, Musk made sweeping changes. He dramatically relaxed content moderation rules, invoking a radical vision of free speech. In parallel, he slashed nearly 80% of the staff, arguing it was the only way to streamline the company and keep it afloat financially. Not even high-profile team members like Esther Crawford, known for sleeping at the office to meet deadlines, were spared.
The backlash was swift. Major advertisers pulled out, alarmed by the platform’s direction. Public perception of Twitter—now renamed X—deteriorated, with critics claiming it had become a breeding ground for disinformation and toxicity.
Broken Promises and Internal Turmoil
Inside the company, the story wasn’t much better. Former employees described a toxic work environment, where promises were broken and expectations grew increasingly unrealistic. In some cases, Musk even asked ex-employees to repay severance overpayments, drawing legal attention.
One incident, in particular, made headlines: a senior engineer questioned Musk’s interpretation of user engagement metrics. He was swiftly let go. The move symbolized Musk’s autocratic management style, where dissent appeared unwelcome.
Though the appointment of Linda Yaccarino as CEO was intended to stabilize operations, the turbulence continued. Musk doubled down, launching legal action against what he described as an “illegal boycott” by advertisers and pivoting toward new growth areas, including xAI, his artificial intelligence venture.
A Risky Strategy Begins to Pay Off
Against all odds, Musk’s scorched-earth approach is beginning to yield results. Backed by investors such as Sequoia Capital and Fidelity Investments, confidence in X has slowly returned. As the platform explores multi-service expansion—including digital payments and AI tools—its valuation has climbed, eventually reaching its original price tag of €41.8 billion.
That symbolic figure marks more than just a financial recovery. It’s a signal that, despite widespread doubts, Musk’s vision for a next-generation platform might not be as far-fetched as it once seemed.
Still a Long Road Ahead
This rebound is a much-needed boost for Musk, but it’s far from the finish line. X still carries a massive debt load from the acquisition, and a new fundraising round aiming to secure €1.85 billion is underway. The question remains: can Musk turn this fragile momentum into long-term stability?
The future of X hinges on several unknowns. Will advertisers and users return in force? Will the diversification strategy succeed? And most importantly, can X truly evolve from a traditional social network into a multi-functional digital hub, as Musk envisions?
Only time will tell. But for now, after 874 days, Musk finally has something to celebrate.
