SpaceX filing: X's ad revenue was $1.8B in 2025, $1.7B in 2024, and $2.3B in 2023, below Twitter's $4B in 2021; X and Grok now have 6.3M active paid subscribers
So with some rough math Elon basically cut revenues from 4 billion to 2.5 billion while load the company up with debt. Definitely not the “all the advertisers came crawling back” story that's pitched [embedded post]
assuming all 6.3M subs are on the top tier, that's ~760M in revenue there. — still way below what pre-acquisition twitter was pulling in. — plus all the debt service, etc — heretofore unplumbed depths of value destruction [embedded post]