The investment firm cut its valuation of X by about 10.7 percent in November alone, from an estimated $6.3 million at the end of October to just less than $5.6 million by the end of the following month, according to a recent filing.
The social media company faced several controversies at the end of the year. Musk was met with renewed accusations of antisemitism in November after he appeared to endorse a post promoting an antisemitic conspiracy theory.
Shortly after, left-leaning media watchdog group Media Matters for America published a series of reports saying it had found ads for mainstream brands placed next to pro-Nazi and white nationalist content on X.
As major companies halted their ad spending on the platform, Musk lashed out, telling advertisers to “go f‑‑‑ yourself.”
“If someone is going to try and blackmail me with advertising, blackmail me with money, go f‑‑‑ yourself,” he said at The New York Times DealBook Summit in late November. “Go f‑‑‑ yourself. Is that clear? Hope it is.”
The outburst punctuated a year defined by setbacks and scandals for the billionaire owner of Tesla and SpaceX.
Read more in a full report at TheHill.com.
