The value of social media platform X has dropped over 75% since Elon Musk's acquisition two years ago, with Fidelity reporting a current valuation of $9.4 billion compared to the $44 billion purchase price. Cost-saving measures include relocating the main office to Bastrop, Texas. Controversial decisions, such as rebranding from Twitter to X and changing the verification system to a subscription model, have led to a loss of advertisers, further impacting the platform's value.