What Happened to X (formerly Twitter)?

Twitter, launched in 2006, rapidly grew into a global phenomenon, becoming a crucial platform for real-time news, public discourse, and social interaction. It went public on the New York Stock Exchange in November 2013. The company's trajectory dramatically shifted with Elon Musk's involvement, beginning in early 2022 when he became its largest shareholder.

Musk's tumultuous acquisition of Twitter, initiated with an offer in April 2022 and completed in October 2022 for $44 billion, marked a pivotal turning point. His stated goal was to transform Twitter into 'X, the everything app,' inspired by platforms like WeChat. The takeover was followed by immediate and drastic changes, including mass layoffs affecting a significant portion of the workforce, a controversial overhaul of content moderation policies, and the introduction of a paid verification system (Twitter Blue, later X Premium).

The most visible change occurred in July 2023 when Twitter was officially rebranded to X, with its iconic bird logo replaced by an 'X' symbol. The domain name also transitioned to x.com by May 2024. This rebranding was part of Musk's broader vision to integrate various functionalities, including long-form content, audio-video calls, job search, and AI features like Grok, into a single platform. However, these changes were met with mixed reactions, leading to an exodus of many advertisers due to brand safety concerns and shifts in content moderation.

Leadership at X has also seen significant shifts. Linda Yaccarino was appointed CEO in June 2023 to focus on business operations and advertiser relations, while Musk concentrated on product, technology, and systems. However, Yaccarino resigned in July 2025, transitioning to a role as chair and CEO of X Corp, with Musk taking a more hands-on role in product and technology. More recently, in August 2026, Nikita Bier, the product lead at X, also stepped down, though he continues as an advisor.

Financially, X has faced challenges. Advertising revenue declined sharply post-acquisition, falling from a peak of $4.73 billion in 2021 to an estimated $2.26 billion in 2025. Q2 2026 advertising revenue was reported at $367 million, still significantly below pre-Musk levels. While subscription revenue from X Premium has grown, reaching an estimated $1 billion in annualized recurring revenue by July 2026, it has not fully offset the advertising losses. User numbers have fluctuated, with recent reports indicating around 611 million monthly active users and 251 million daily active users globally in 2026. The platform has also integrated more deeply with Musk's other ventures, with xAI acquiring X in an all-stock transaction valued at $45 billion by April 2025, and X being folded into SpaceX via xAI in a deal valuing the combined entity at $1.25 trillion by April 2026.

As of August 2026, X continues its transformation. Content moderation policies were updated in early 2026, aiming to balance free expression with user safety, particularly concerning AI-generated media and enforcement in various regions. The platform is also moving towards a video-first approach, testing new video tabs and features. A significant development on August 8, 2026, is the winding down of the Creator Revenue Sharing program, replaced by an 'Original Content Rewards Program' designed to incentivize unique and meaningful content. This indicates a continued push for monetization and a shift in content strategy, emphasizing original contributions over engagement farming.