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The previous year, Elon Musk purchased Twitter for a total of USD 44 billion, and since then, he has made a number of significant alterations to the company. As soon as he took over as CEO of the microblogging network, Musk immediately set out with a goal to entirely transform Twitter into something altogether different.

After completing the purchase of the platform, the first thing that he did was to dismiss the firm’s previous CEO, Parag Agrawal, along with many other high-level employees. After some time, he started terminating staff, and eventually, the workforce of the firm was cut down to 1,500 individuals from an astounding 8,000.

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The staff of Twitter, along with its users, have been going through some very rough times over the last few months. People within the Twitter headquarters were required to dedicate themselves to the construction of Musk’s Twitter 2.0 and labor for long hours.

On the other side, users have also seen a number of modifications made to the platform, the most recent of which is the elimination of all legacy blue ticks, which Musk despises with a fiery passion. And now, after all, that has happened, Musk seems to be having second thoughts about his choice to purchase Twitter, and he has conceded that it was not ‘financially prudent’ of him to do so.

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During an interview with Tucker Carlson of Fox News, Musk said that he overpaid for Twitter by a factor of two compared to what the company should have been worth. For the benefit of those who are unaware, it was only just revealed that the value of Twitter has now dropped to USD 20 billion, which is less than half of what Musk spent for it when he purchased it.

During the course of the conversation, Elon Musk discussed his choice to acquire Twitter and said, “It needs to be shown as to whether this was economically smart.” At the moment, it is not.”

When asked about the most recent assessment of the firm, he responded by saying, “We just revalued the company at just under fifty percent of the acquisition price.” I paid at least two times the amount that it should have been purchased for when I made the purchase.

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