Comrade Sadiq Lanre Ishaq, a social media user, made a post on Meter (formerly Facebook) claiming that Elon Musk, the CEO of Meta, bought Twitter (now X) for $44 billion but that it is now worth only $9.4 billion.

The unverified claims, posted in a Facebook group called “Capacity Media Trust Radio” on Wednesday, December 4th, had garnered 294 likes, over 70 comments, and five shares by Thursday, December 5th.

The post read, “Elon Musk bought twitter at $44b, but twitter is currently worth $9.4b! Moral lesson: Never invest based on emotions.”

To verify the authenticity of the claim, EduVision conducted an investigation.

The findings revealed that Musk’s net worth has fallen by $9 billion since acquiring Twitter in 2022 for $44 billion—the largest leveraged buyout of a tech company in history.

According to Bloomberg‘s Billionaires Index. His current net worth stands at $203 billion, a 25% drop from the start of the year.

Musk had stated when the deal closed that he “didn’t do it to make more money” but “to try to help humanity.” As part of the acquisition, Musk paid roughly $25 billion personally, with Sequoia Capital and Andreessen Horowitz contributing $7.1 billion in cash.

Additional investors covered the remaining amount.

Analysts have noted that Musk could implement job cuts to reduce costs at Twitter, which spends approximately $1.2 billion annually on sales and marketing, including significant employee salaries and benefits.

Fidelity now estimates that X (formerly Twitter) is valued at $9.4 billion, down 79% from the $19.66 million it had valued Twitter shares at when Musk acquired the company.

Based on these findings, EduVision concludes that the claim regarding Musk’s acquisition of Twitter for $44 billion and its current valuation of $9.4 billion is TRUE.