X's UK profits collapsed the year after Elon Musk's takeover
a year ago
- #Elon Musk
- #Social Media
- #Business Decline
- X's revenues and profits in the UK collapsed by 66.3% and 74% respectively after Elon Musk's takeover.
- Advertising decline cited due to concerns over 'brand safety and/or content moderation'.
- Twitter UK Ltd narrowly avoided being struck off for late filing of accounts.
- Employee numbers in the UK dropped from 399 to 114, with significant cuts in R&D.
- Despite struggles, X's value rebounded to $44bn, and X.AI acquired it for $33bn.
- Experts suggest recovery is possible if Musk improves advertiser support and brand safety measures.
- Musk established X.AI London in the UK, sparking speculation about political donations.