Tech giant Elon Musk has successfully expanded several businesses, increasing his capital and financial strength to become the richest man on the planet.
However, the billionaire entrepreneur noticed that the value of social media platform X, which he acquired in 2017, was plummeting.
New figures released at the end of September show the company's share price has fallen 78 percent.
The social platform boasts over 600 million users and ranks 12th among all social platforms, according to the data outlet. explosive topics. Musk is the user with the most followers on X.
In any case, his other businesses are growing rapidly even as the value of X is plummeting.
One of his most prominent companies, SpaceX, has partnered with NASA to 9th crew rotation mission SpaceX's Dragon spacecraft and Falcon 9 rocket arrived at the International Space Station in September as part of SpaceX's Commercial Crew Program.
The team is now reportedly finalizing a new offer that would increase SpaceX's value by $40 million. financial times.
Musk's outspoken defense of President-elect Trump also turned out to be a power move worth millions of dollars in profits. His car company Tesla's stock price soared 13% after the presidential election.
The billionaire will become a permanent member of the newly created Department of Government Efficiency, which aims to reorganize federal government agencies.
The acronym ironically supports Dogecoin, one of Musk's favorite cryptocurrencies. After Trump's victory, the exchange's value rose 18%.
