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When Elon Musk purchased Twitter, many in the media and industry scoffed at his decision. Detractors believed he would lead the platform into chaos, especially after he reduced the workforce by approximately 80%. However, contrary to these expectations, X has reportedly seen its profits double since Musk took the company private. According to financial reports, annual revenues are projected at 2.7 billion, surpassing previous adjusted earnings from the legacy version of Twitter.
Musk’s critics in the media often painted him as reckless, contending that he had decimated a thriving platform. Yet, X’s financial resurgence seems to be a slap in the face to those dismissing Musk’s leadership. Investment interest is renewed, with loans for X selling at nearly their full value.