News Summary

• A recent analysis from Fidelity, one of the shareholders of Musk’s X Holdings, revealed that the company had lost 71.5 percent of its value since Musk purchased the social media platform..
• A few months after he gained ownership of the social media platform, The New York Times released a report showing that hate speech on the platform had risen dramatically since his takeover..
• “While the reporting requirement does appear to place a substantial compliance burden on social medial companies, it does not appear that the requirement is unjustified or unduly burdensome within the context of First Amendment law,” Shubb wrote, per Reuters..
• The November 2023 disclosure from the mutual fund — which contributed over $300 million to Musk’s Twitter takeover — marked down the value of its shares in the company, according to Axios..
• The analysis also comes a year and a month after Musk acquired Twitter for $44 billion and renamed the platform to X in July..
• In November, a report by the watchdog group Media Matters found that ads for brands including Apple, Bravo, and Amazon had appeared on X next to white nationalist hashtags such as #WLM (White Lives Matter) or #KeepEuropeWhite..